When Your Accountant Is Working with the Accountant's Copy of Your

question 25

Multiple Choice

When your accountant is working with the Accountant's Copy of your data file, you cannot −

• A) change an account number
• B) start a new fiscal period
• C) enter general journal transactions
• D) make a backup copy of your data file

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Definitions:

Profits Share

An agreement or policy where a portion of a company's profits is distributed to employees, shareholders, or partners.

Partnership Act

Legislation that outlines the rights and responsibilities of partners in a business partnership.

Profits

The financial gain realized when the revenue generated from business activities exceeds the expenses, taxes, and costs associated with sustaining the operations.

Carrying On Business

The ongoing conduct of commercial activities with some degree of regularity or continuity for profit.