If the Label Is Too Long to Fit in the Current

question 58

Multiple Choice

If the label is too long to fit in the current cell and the cells on the right are not empty, _____.

• A) extra cells will be inserted
• B) part of the label will be truncated
• C) the label will replace the content of the cells
• D) none of the above

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Definitions:

Fees Earned

Revenue earned from providing services, as opposed to selling goods.

Income Summary

An account used in the closing process that summarizes the revenues and expenses of an accounting period.

Capital

Financial assets or the financial value of assets, such as cash and goods, working capital used in a business by a person, company, or organization.

Income Summary

An account used to summarize the revenue and expenses for a specific period, aiding in the transition to the next accounting period.