Which of the Following Is the First Step You Should

question 7

Multiple Choice

Which of the following is the first step you should take if you see smoke or flames in the laboratory?

• A) Find an extinguisher and try to put the fire out.
• B) Pull the fire alarm.
• C) Evacuate the building.
• D) Close all the doors and windows.

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Definitions:

Cumulative Earnings

The total amount of net income a company has earned over its existence, after dividends and other distributions are subtracted.

Accounting Equation

A fundamental principle representing the relationship among assets, liabilities, and owner's equity (Assets = Liabilities + Owner's Equity).

Transactions

The exchange of goods, services, or funds between two or more parties in accounting, each recorded as an entry.

Inventory

The goods and materials that a business holds for the ultimate goal of resale or use in production.