Financial Statements Are Prepared Directly from the

question 170

Multiple Choice

Financial statements are prepared directly from the

• A) general journal.
• B) ledger.
• C) trial balance.
• D) adjusted trial balance.

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Definitions:

Separation Of Duties

A key principle in internal control that involves dividing responsibilities among different personnel or departments to reduce risk of fraud and errors.

CPA Licenses

Certifications granted to accounting professionals who meet the education, experience, and examination requirements of their jurisdiction, allowing them to practice as Certified Public Accountants.

Insuring Assets

The act of obtaining insurance coverage to protect company assets from losses due to risks like fire, theft, or damage.

Technologically Advanced

Referring to the use or development of new and innovative technologies in processes, products, or services.