Under U.S.GAPP

question 159

Multiple Choice

Under U.S.GAPP

• A)Currency signs are generally used in the journal, ledger, trial balance, and financial statements.
• B)Share Capital-Ordinary is referred to as Retained Earnings.
• C)The statement of financial position is often called the statement of changes in financial position.
• D)The rules of debits and credits, and the steps in the recording process are the same as under IFRS.

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Definitions:

Live Preview

A feature in some software applications that allows users to see how changes, such as formatting options, will look before they are actually applied.

Galleries

Features in some software applications that provide a visual selection of options, like styles or templates.

Command Menu

A list of options or commands within a software program that execute specific functions or tasks.

Office App

Generic term for any application software that is designed to help the user to perform various tasks related to document creation, calculation, presentation, and email management, often included in office suites.