A Line Graph May Be Used to Discover Trends

question 77

True/False

A line graph may be used to discover trends.

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Definitions:

Adjusting Entry

Journal entries made in accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Overstatement

The act of presenting financial statements or data to be more significant than they actually are, often involving higher revenues, assets, or lower expenses than exist in reality.

Note Payable

A financial obligation represented by a written promissory note which the borrower agrees to pay back to the lender.