Sally Is in Class and Her Professor Is Going Down

question 60

Multiple Choice

Sally is in class and her professor is going down her row asking each student to answer questions about the lesson. Sally doesn't really remember what the person sitting beside her said because she was focused on remembering the lesson. This is an example of

• A) the recency effect.
• B) the von Restorff effect.
• C) the primacy effect.
• D) the next-in-line effect.

Determine the effect of accounting entries on the company's financial ratios.

Identify the logical order of steps during the end-of-period processing.

Understand the role of the end-of-period spreadsheet in preparing post-closing trial balances and its impact on the next accounting period.

Understand the purpose and types of journal entries in accounting.