The heading of an adjusted trial balance contains the heading "For the Month Ended December 31, 2008."
Indicate whether the statement is true or false
False
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Which of the following is not an advisable criterion for an effective incentive plan?
A. The rewards are believable. B. The rewards are linked to performance. C. The rewards satisfy individual needs. D. The rewards require rarely attainable performance. E. The rewards are agreed on by the manager and employees.
Eliminations are important because they avoid double counting when consolidated financial statements are prepared
Indicate whether the statement is true or false
Jones Corp. reported current assets of $193,000 and current liabilities of $137,000 on its most recent balance sheet. The working capital is:
A. 41%. B. $56,000. C. 141%. D. ($56,000). E. 71%.
For which of the following errors should the appropriate amount be added to the balance per bank on a bank reconciliation?
A) Deposit of $250 recorded by the bank as $25 B) Deposit of $25 recorded by the bank as $250 C) Check for $25 recorded in company books as $52 D) Check for $52 recorded in company books as $25