Case-Based Critical Thinking Questions Case 1-1 Gabrielle Wants Very Much

question 24

Multiple Choice

Case-Based Critical Thinking Questions Case 1-1 Gabrielle wants very much to get a job in television. Each day she visits local television station websites and peruses the Help Wanted sections. To her surprise, there is an opening for a production assistant at Channel 30. To apply for the job, applicants must download a form from the Channel 30 website, fill it out, and then email it to the human resources manager. The form is a Microsoft Word 2013 document. As she types, Gabrielle notices that there are little dots between each word in her paragraph. Sometimes there is one dot and other times there are two dots. Confused, Gabrielle types her next two words very slowly to try and figure out what the dots are all about. She realizes that _______.

• A) each dot is a symbol of a completed word
• B) each dot is a symbol of no spelling errors in the previous word
• C) each dot represents a space between words, so she should go back and add an extra one wherever there is only one
• D) each dot represents a space between words, so she should go back and delete the extra ones she inserted

Understand the process and purpose of preparing an adjusted trial balance.

Identify the role and composition of a worksheet in accounting.

Know how to close accounts, including income summary and dividends, at the end of the fiscal year.

Comprehend the process of preparing financial statements from a worksheet.

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Definitions:

Investing Activities

Transactions and events related to the acquisition and disposal of long-term assets and investments, reported in the cash flow statement.

Hedging

A maneuver or contract that eliminates risk from a transaction. In international trade, eliminating exchange rate risk by purchasing a forward contract for delivery of foreign exchange at a specified rate at a specified time.

Settlement Date

The day when a trade is finalized, and the buyer must pay for the securities.

Floating Exchange Rate

A currency's value is allowed to fluctuate according to the foreign exchange market without direct government control.