When Using the Spreadsheet (Work Sheet) Method for the Statement

question 169

Multiple Choice

When using the spreadsheet (work sheet) method for the statement of cash flows, indirect method, entries made on the spreadsheet are

• A) not recorded in the journal or posted to the ledger
• B) recorded in the journal and posted to the ledger
• C) recorded in the journal but not posted to the ledger
• D) not recorded in to the journal but are posted to the ledger

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Definitions:

Incorporation

The process of legally declaring a corporate entity as separate from its owners, providing it with distinct legal rights and obligations.

Advantages

The favorable aspects or benefits that something provides, often compared to other options or situations.

Disadvantages

Negative aspects or conditions that reduce the effectiveness or desirability of something.

Agent's Liability

refers to the legal responsibility an agent holds when acting on behalf of a principal, including obligations and potential damages or losses that occur during the act.