Which of the Following Is a Term for a Common

question 56

Multiple Choice

Which of the following is a term for a common language used among speakers of other languages?

• A) lingua britannia
• B) lingua franca
• C) lingua esperanto
• D) lingua universale
• E) lingua americano

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Definitions:

Accrual Basis

The Accrual Basis of accounting records revenues and expenses when they are earned or incurred, regardless of when cash is exchanged.

Rent Expense

The cost incurred from leasing a space, property, or equipment for business operations or personal use over a specified time period.

Prepaid Rent

A payment made for rent before it is due, recorded as an asset on the balance sheet and expensed over the period of use.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.