Internet Telephony Is the Method of Using the Internet to Make

question 220

True/False

Internet telephony is the method of using the Internet to make a phone call,either one-to-one or for audio conferencing.

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Definitions:

Post-closing Trial Balance

A financial statement prepared after closing entries are made, showing the balances of all ledger accounts at the end of an accounting period.

Permanent Accounts

Accounts that carry their ending balances over to the next accounting period and are not closed at the end of the financial year.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts, clearing the way for the next accounting period.