You Use the _____ Property of a Query to Document

question 40

Multiple Choice

You use the _____ property of a query to document the purpose or author of the query.

• A) Purpose
• B) Object
• C) Miscellaneous
• D) Description

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Definitions:

Ending Inventory

The total value of goods available for sale at the end of an accounting period, calculated by adding purchases to beginning inventory and subtracting cost of goods sold.

Net Purchases

The total amount spent on purchases of goods for resale after subtracting any purchase returns, allowances, and discounts.

Operating Expenses

Costs associated with running a business's day-to-day operations, excluding the cost of goods sold.

Income Summary

An account in which revenues and expenses are summarized, used in the closing process to prepare the accounts for the next period.