Provide an Appropriate Response

question 256

Multiple Choice

Provide an appropriate response.
-Consider the arrangements of sixteen students in a line. Is this a combination, a permutation, or neither?

• A) Permutation
• B) Neither
• C) Combination

Understand the principles and importance of internal control in accounting.

Recognize the purposes and components of a voucher system in accounting practices.

Identify the roles of various documentation and files within the voucher system.

Understand the accounting treatment of purchases under the periodic system.

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Definitions:

Cash Dividend

A cash dividend is a payment made by a company out of its earnings to shareholders in the form of cash.

Stockholders Equity

The residual interest in the assets of a corporation after deducting liabilities, representing ownership value.

Assets

Economic resources owned by a business or individual that are expected to provide future benefits.

Par Value

The face value of a bond or stock as stated by the issuer, which bears importance in the legal capital of a company.