Match the following terms with the appropriate definition.A. Permanent accountsF. Work sheetB. Accounting cycleG. Closing entriesC. Temporary accountsH. Post-closing trial balanceD. Working papersI. Operating cycle of a businessE. Income summaryJ. Pro forma statements____ 1. Various analyses and internal documents prepared by accountants when organizing information for internal and external decision makers.____ 2. The time span from when cash is used to acquire goods and services until cash is received from the sale of those goods and services.____ 3. A temporary account only used for the closing process that contains a credit for the sum of all revenues and a debit for the sum of all expenses.____ 4. A widely used working paper that is a useful tool for preparers in working with
accounting information, usually not available to external decision makers.____ 5. A list of permanent accounts and their balances from the ledger after all closing entries are journalized and posted.____ 6. Recurring steps in preparing financial statement performed each accounting period, beginning with analyzing transactions and ending with a post-closing trial balance or reversing entries.____ 7. Entries used to transfer end-of-period balances in revenue, expense, and dividends accounts to the permanent retained earnings account. ____ 8. Statements that show the effects of proposed transactions as if the transactions had already occurred.____ 9. Accounts that report on activities related to one or more future accounting periods; they carry their ending balances into the next period.____10. Accounts that accumulate data related to one accounting period only; they include income statement accounts, dividends, and the Income Summary account.
What will be an ideal response?
1. D; 2. I; 3. E; 4. F; 5. H; 6. B; 7. G; 8. J; 9. A; 10. C
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budgeting process where individuals who are impacted by a budget are directly involved in its development is called ________.
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In general, employers have the right to monitor calls and text messages sent from their telecommunications devices, provided they do so for compelling business reasons and employees have been informed that their communications will be monitored.
Answer the following statement true (T) or false (F)