MAP QUESTIONS Instructions: Choose the Letter on the Accompanying Map of the of the Eastern

question 45

Short Answer

MAP QUESTIONS
Instructions: Choose the letter on the accompanying map of the eastern United States that correctly identifies each of the following:

-Boston, Massachusetts

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Definitions:

Accounting Estimates

Assumptions made about future financial transactions that impact the reporting of a company's financial statements, such as allowances for doubtful accounts.

Cumulative Adjustment

An accounting method used to make corrections to cumulative errors in financial statements of previous years.

Prior Period Adjustments

Corrections of errors in previously issued financial statements for periods that have already been reported.

Retained Earnings

The portion of a company's net income that is kept within the company rather than distributed to shareholders as dividends.