Limitations

question 64

Multiple Choice

Limitations:

• A)should be acknowledged but in the appendix.
• B)should be acknowledged,and a statement should be made as to how they impact the results.
• C)should not be acknowledged as they take credibility away from the findings.
• D)should not exist in a thorough report.
• E)should be included in the conclusions section of the report,if at all.

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Definitions:

Petty Cash

A small fund kept on hand used for minor, miscellaneous expenses of a business.

Misc. Expense

Miscellaneous Expense refers to small, infrequent costs that are not categorized under a specific heading in financial statements.

Misc. Revenue

Miscellaneous revenue refers to income generated from activities not central to a business’s main operations.

Change Fund

Fund made up of various denominations that are used to make change for customers.