A Speech Using the Elements of Effective Language Would Include

question 20

Multiple Choice

A speech using the elements of effective language would include __________.

• A) clichés
• B) active verbs
• C) scrambled sentence structure
• D) distant tone

Understand the significance of the Income Summary account in the closing process.

Grasp how errors in adjusting entries affect financial statement balances.

Identify which accounts appear on the post-closing trial balance.

Understand the purpose and process of adjusting and closing entries in accounting.

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Definitions:

GAAP

Generally Accepted Accounting Principles; a framework of accounting standards, rules and procedures used in the compilation of financial statements in the U.S.

Treasury Stock Transaction

Refers to the buying back or reacquisition of previously sold shares by the issuing company, reducing the amount of outstanding stock on the open market.

Additional Paid-in Capital

The amount of money investors pay above the par value of a stock.

Retirement of Shares

The process by which a company buys back its own shares from the marketplace, reducing the amount of outstanding shares.