How Long Does It Take the Earth to Complete One

question 82

Multiple Choice

How long does it take the Earth to complete one orbit around the Sun?

• A)one day
• B)one year
• C)one month
• D)one week
• E)The time it takes Earth to orbit the Sun changes significantly from one orbit to the next.

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Definitions:

Accrued Salaries

Salaries that have been earned by employees but have not yet been paid by the employer, recognized as a liability on the balance sheet.

Journal Entry

A record in the books of accounts that documents a business transaction in terms of debits and credits.

Adjusting Entries

Fiscal period closing entries in accounts to properly assign incomes and expenditures to the interval in which they factually took place.

Prepaid Insurance

An asset account that represents insurance premiums paid in advance, covering future periods.