It Is the Year End, but Not the Pay Period

question 126

Multiple Choice

It is the year end, but not the pay period end. How will this affect the balance sheet?

• A) Assets will be increased.
• B) Liabilities will be increased.
• C) Owner's equity will be increased.
• D) This has no effect on the period end balance sheet.

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Definitions:

Non-intersecting

Refers to lines, paths, or objects that do not cross each other or share any common points in a given plane or space.

Parallel

Lines or surfaces side by side and having the same distance continuously between them.

Tooth Height

The vertical dimension of a tooth in gears or sprockets from the top to the base.

Diametral Pitch

A specification used in the design of gears, defined as the number of teeth per inch of the diameter of the gear.