There Are Values,such as Integrity,that Are Generally Considered Universal

question 7

True/False

There are values,such as integrity,that are generally considered universal.

---

Definitions:

Unrelated Year-end Adjustments

Adjustments made to the financial statements at year-end that do not pertain to the normal operations of the business.

Prepaid Insurance

An asset account representing payments made for insurance coverage before the coverage period.

Accrued Salaries

Salaries that have been incurred but not yet paid; an expense that represents the amount of salary earned by employees but not disbursed by the end of the accounting period.

Unearned Rent

Income received for renting out property that has not yet been earned because the rental period has not occurred.