When Asked to Memorize the Ten Letters,D,R,S,S,A,Y,N,R,A,and B,Debbie Reorganized Them

question 133

Multiple Choice

When asked to memorize the ten letters,D,R,S,S,A,Y,N,R,A,and B,Debbie reorganized them into the words BARNS and YARDS.This helped her remember the letters accurately at a later time.Which of the following tactics has Debbie used in order to simplify the process of memorizing the letters?

• A)Priming
• B)Chunking
• C)Self-reference
• D)Rehearsal

Classify accounts by their normal balances and activity (debit or credit) during recording business transactions.

Understand and correctly apply the concept of journalizing financial transactions.

Analyze and correct errors in journal entries.

Understand the effect of financial transactions on the accounting equation.

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Definitions:

Adjusting Entry

An adjustment recorded in the bookkeeping records at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.

Bad Debt Expense

The estimated amount of credit sales that are not expected to be collected, recognized as an expense in the income statement.

Uncollectible Accounts

Accounts receivable that a company does not expect to collect and writes off as a bad debt expense.

Outstanding Accounts Receivable

Amounts due to a company from customers for goods or services provided on credit but not yet paid.