Which of the Following Statements Is Not Correct? the Administrative

question 26

Multiple Choice

Which of the following statements is not correct? The Administrative Appeals Tribunal:

• A)was created by the Administrative Appeals Tribunal Act 1975 (Cth).
• B)is a court exercising judicial powers.
• C)exercises administrative authority rather than judicial authority.
• D)on reviewing a decision, substitutes its own decision in place of the original decision.

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Definitions:

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.

Debit and Credit

Fundamental concepts in double-entry bookkeeping, where debits are entries on the left side of an account and credits are entries on the right.