In Recording Business Transactions, Evidence That an Accounting Transaction Has

question 121

Multiple Choice

In recording business transactions, evidence that an accounting transaction has taken place is obtained from

• A) business documents.
• B) the taxing authority.
• C) the public relations department.
• D) the IASB.

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Definitions:

Endoderm

The innermost layer of cells or tissue of an embryo in early development that gives rise to the lining of the digestive and respiratory systems.

Circulatory System

The circulatory system is an organ system that permits blood and lymph circulation to transport nutrients, oxygen, carbon dioxide, hormones, and blood cells to and from cells in the body.

Mesoderm

The intermediate layer in an embryo during its initial stages of development, responsible for forming the muscular, skeletal, and circulatory systems.

Somites

Blocks of mesoderm that are located on either side of the spine in the developing embryo, which will differentiate into the vertebrae, ribs, muscles, and dermis.