Off Balance Sheet Means That

question 18

Multiple Choice

Off balance sheet means that:

• A)Obligations and commitments are recorded only in the income statement accounts.
• B)Obligations and commitments are recorded only in the statement of cash flows.
• C)Capital budgets are properly authorized and approved.
• D)Obligations and commitments are not recorded in the accounts of the company.

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Definitions:

Middle Ear

The part of the ear that channels and amplifies sound through the eardrum, hammer, anvil, and stirrup to the inner ear.

Eardrum

A slim barrier that divides the external ear from the internal ear and oscillates when influenced by sound vibrations.

Middle Ear

The part of the ear that contains three small bones (the hammer, anvil, and stirrup) that transmit sound vibrations from the eardrum to the inner ear.

Outer Ear

The outermost part of the ear, consisting of the pinna and the external auditory canal.