Among the Questions You Should Ask When Testing the Validity

question 105

True/False

Among the questions you should ask when testing the validity of your supporting material is: "Is the source identified and credible?" and "Is the information recent?"

---

Definitions:

Accounts Receivable

Unpaid amounts due to a company from its clients for delivered or utilized goods or services awaiting payment.

Land

It refers to the earth's surface extending downward to the center and upward to infinity, including permanently attached natural objects, and is considered a non-depreciable asset in accounting.

Journalizing

The process of recording transactions in the journal in chronological order, marking the first step in the accounting cycle.

Posting

The process of transferring journal entries to their respective accounts in the ledger.