Critical Thinking Questions Case 5-1 Your Neighbor Perry Is Uncertain

question 92

Multiple Choice

Critical Thinking Questions Case 5-1 Your neighbor Perry is uncertain what the significance of file extensions is, and he has a bunch of files that he would like to be able to recognize by their extensions alone. You tell him that you will help him out. Perry is looking for a file that has had most of its formatting removed. Which of the following is most likely to be that file?

• A) file.pdf
• B) file.mht
• C) file.txt
• D) file.wps

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Definitions:

General Ledger Accounts

The complete record of all financial transactions over the life of a company, organized by account.

Income Statement Accounts

Income statement accounts are those financial accounts that track the revenues, expenses, gains, and losses of a business, which together determine its net profit or loss for a period.

Adjusting Entry

A journal entry made at the end of an accounting period to allocate revenues and expenses to the period in which they actually occurred.

Office Supplies

Items used in an office for daily work such as pens, paper, staplers, and calculators.