The School Years After Elementary or Grade School and Before

question 164

Multiple Choice

The school years after elementary or grade school and before college or university are referred to as _____.

• A) primary education
• B) secondary education
• C) tertiary education
• D) quaternary education

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Definitions:

Adjusting Entries

Entries made in accounting records at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Reversing Entries

are journal entries made at the beginning of an accounting period to reverse or cancel out adjusting entries from the end of the previous period.

Reversing Entries

Journal entries that are made at the beginning of an accounting period to reverse or cancel out adjusting journal entries made at the end of the previous accounting period.

Assets

Resources owned by a company that have economic value and can provide future benefits.