Those Employees That Report Unethical or Illegal Actions of Their

question 89

Multiple Choice

Those employees that report unethical or illegal actions of their employers are known as:

• A)transparency champions
• B)whistle-blowers
• C)business heros
• D)corporate employees

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Definitions:

Post-Closing Trial Balance

A list of all accounts and their balances after closing entries have been made, used to check the equality of debits and credits and prepare for the next accounting period.

Owner's Equity Statement Accounts

Reports detailing changes in the owner's equity account for a period, showing contributions, withdrawals, and the period's profit or loss.

Balance Sheet Accounts

Balance Sheet Accounts are the accounts that reflect the assets, liabilities, and equity of a company as recorded on the balance sheet, giving a snapshot of financial health at a specific point in time.

Current Assets

Liquid assets that a company owns and expects to use or convert into cash within a year or its operational cycle.