Most Advances in the Techniques or Tools for Software Involve

question 30

Multiple Choice

Most advances in the techniques or tools for software involve a gain of ____ to ____ percent in productivity or reliability

• A) 5, 35
• B) 1, 3
• C) 50, 80
• D) 7, 12

Describe the process and accounting treatment for change funds and their differences from petty cash.

Understand how to establish and adjust a petty cash fund.

Learn how to reconcile the petty cash fund by accounting for cash shortages and overages.

Ability to prepare journal entries for petty cash transactions including fund establishment, replenishment, and adjustment.

---

Definitions:

Consolidating Entries

Journal entries made in the process of combining the financial statements of multiple subsidiaries with those of a parent company.

Original Cost

The acquisition cost of an asset before adjusting for depreciation, amortization, or impairment costs.

Book Value

The net value of a company's assets minus its liabilities, essentially the company's total equity.