A Person,place,object,event,or Concept in the User Environment About Which the Organization

question 102

Multiple Choice

A person,place,object,event,or concept in the user environment about which the organization wishes to maintain data refers to a(n) :

• A)attribute
• B)data element
• C)relationship
• D)entity

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Definitions:

Total Assets

The sum of all assets owned by a company, including cash, investments, equipment, and real estate, reflected on the balance sheet.

Adjustments Columns

Columns in an accounting worksheet used for recording adjustments to journal entries at the end of an accounting period before preparing financial statements.

Journalized

The process of recording financial transactions in a company's journal, denoting the first step in the accounting process.

Worksheet

A document or tool used by accountants to prepare financial statements and ensure that debits and credits are in balance, not typically part of the formal accounting records.