Which of the following should cookies not contain?
a) user postal zip codes
b) user preferences
c) user passwords
d) user settings
Ans: (c)
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_________ refers to the importance of an item to financial statement users in terms of its relevance to decision-making.
a. Comparability b. Materiality c. Consistency d. Objectivity
When the amount for a debit entry in a general journal is transferred to a specific account in the general ledger, it must be posted as a:
A) debit to the account in the general ledger. B) credit to the account in the general ledger. C) total amount, without regard to debit or credit, since the general ledger accounts do not have spaces for debit and credit entries. D) decrease to the account in the general ledger.
Risk refers to the possibility that sacrifices may exceed benefits.
Answer the following statement true (T) or false (F)
Which of the following is true of financing statements?
A) They cannot be electronically filed. B) They are effective for one year from the date of filing. C) They cannot be extended once they expire. D) They are available for review by the public.