Which of the Following Is an Example of a Core

question 4

Multiple Choice

Which of the following is an example of a core value?

• A) Professionals should wear business clothes to work.
• B) Marriage is a union between a man and a woman.
• C) The comforts of home are more important than entertainment outside of the home.
• D) Australians should display their patriotism.
• E) Extended warranties are never worth the money consumers pay for them.

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Definitions:

Accrued Fees

Accrued Fees refer to charges incurred by an entity for services performed but not yet billed or paid at the reporting date.

Adjusting Entry

An accounting record entry, created at the conclusion of an accounting cycle, that distributes earnings and expenses to their respective years.

Unearned Fees

Income received by a company for services to be provided in the future; recognized as a liability until the services are rendered.

Adjusting Entry

A financial record created at the conclusion of an accounting cycle to distribute income and costs to the timeframe in which they were genuinely incurred.