Explain the term “double-entry bookkeeping” and list the major components.
What will be an ideal response?
Double-entry bookkeeping is a “checks and balances” way of keeping track of transactions and keeping the accounting equation in balance. Every type of entry has two offsetting components: debits and credits. Debits are used to record increases in assets, decreases in liabilities, or decreases in owners’ equity. Debits are recorded on the left side of an entry in the journal or ledger. Credits are used to record decreases in assets, increases in liabilities, or increases in owners’ equity. Credits are recorded on the right side of entries made in the journal and ledger.
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When an on-duty lifeguard must interact with people in a pleasant and professional manner and go repeatedly into the pool even though he has severe sunburn, the lifeguard is performing empathetic labor.
Answer the following statement true (T) or false (F)
Professionalism includes knowing how to contribute to a larger cause, and includes ________
A) Being positive B) Being ethical C) Being a team player D) Being dependable E) Being respectful
Which general term refers to the gathering of electronic evidence?
a. Checksum b. Online verification c. Electronic audit d. Computer forensics
______ is the extent to which team members rely on each other to complete their work tasks.
A. Systems B. Tasks C. Resources D. Interdependence