Under the Compromise Reached by CBS and RCA in 1953

question 68

Multiple Choice

Under the compromise reached by CBS and RCA in 1953, the standard for record singles became the format.

• A) 331/3-rpm
• B) 45-rpm
• C) 78-rpm
• D) CD
• E) MP3

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Definitions:

Normal Balance

The standard side (debit or credit) on which increases to an account are recorded.

Financial Statement

Reports that summarize the financial condition and operations of a business.

Permanent/Temporary

Conceptual labels for different types of accounts in accounting, with permanent accounts being those that carry their balances into the next accounting period and temporary accounts being closed at the end of each period.