Which of the Following General Statements Is Not Correct -

question 14

Multiple Choice

Which of the following general statements is not correct -

• A)double click any detail in daily business manager lists to select the journal entry for posting
• B)recall a recurring entry by double clicking the journal from the daily business manager list
• C)payments can be made directly from daily business manager list screens
• D)you can remove a stored entry from the daily business manager lists screen

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Definitions:

Reported Profit

The profit amount shown in a company's financial statements, adhering to accounting standards and principles.

Goodwill

Intangible asset reflecting the value of a business above its tangible assets and liabilities, often arising from brand reputation, customer relationships, or intellectual property.

Intangible Assets

Assets that lack physical substance, such as patents, trademarks, and goodwill, important in evaluating a company's worth.

Impairment Rule

Financial accounting guidelines that require a firm to report a reduction in the value of its assets when they are deemed to be worth less than their carrying amount.