Recording the Items on the Financial Statements in Dollars Is

question 123

Multiple Choice

Recording the items on the financial statements in dollars is done because of the:

• A)Objectivity principle
• B)Monetary unit principle
• C)Revenue recognition principle
• D)Going-concern principle
• E)Cost principle

Understand the importance of considering cultural contexts in therapy, and the emergence of culture-sensitive practices.

Understand different recruitment and selection processes used in organizations.

Identify the advantages and disadvantages of internal and external recruiting methods.

Recognize the role of training and development programs in organizational settings.

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Definitions:

Income Statement Accounts

The accounts that report the revenues, expenses, gains, and losses of a company, which are used to calculate the net income on the income statement.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check for accuracy.

List of Accounts

A comprehensive list that includes all of a company's accounts and account numbers used within its accounting system.

Account Balances

The amount of money in a financial repository, such as a checking account, at any given moment.