Determine Whether the Statement Makes Sense $5 \times 10 ^ { 4 }$

question 100

True/False

Determine whether the statement makes sense. If the statement is possible then it makes sense. If it is clearly impossible,it does not make sense.
-In his lifetime my grandfather spent $5 \times 10 ^ { 4 }$ hours watching television.

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Definitions:

Adjusting Entries

Accounting records finalized at the close of an accounting period to properly assign income and expenses to the period they truly belong to.

Annual Accounting Period

A 12-month time span used by businesses for financial reporting and accounting purposes.

Chart of Accounts

A systematic listing of all ledger account names and numbers used by a company, organized by the assets, liabilities, equity, revenue, and expenses.

Closing Entry

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts and prepare the company's books for the next period.