The First Step in Rounding Is to Identify the Digit

question 45

True/False

The first step in rounding is to identify the digit to be rounded.

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Definitions:

Other Income

Income derived from activities that are not part of a company’s primary business operations.

Operating Activity

Operating activity involves the primary functions of a business that relate to its provision of goods and services to the market.

Expenses

Assets used up or services consumed in the process of generating revenues.

Retail Business

A business that sells goods or services directly to consumers for personal or household use.