Which of the Following Best Describes Object Lines

question 15

Multiple Choice

Which of the following best describes object lines?

• A)used to indicate the center of circular (or cylindrical)objects.
• B)used to show the extent of a length being displayed.
• C)used to represent edges of an object that are visible from our point of view.
• D)used to show were a section is to be removed for examination.

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Definitions:

Reversing Entries

Journal entries made at the beginning of an accounting period to reverse or cancel out adjusting entries from the end of the previous period, simplifying the record of new transactions.

Adjusting Entries

Journal entries made at the end of an accounting period to update account balances before producing financial statements, necessary for the accrual basis of accounting.

GAAP

Generally Accepted Accounting Principles; a collection of standardized guidelines and practices for financial accounting.

Income Summary

An account in the closing process that summarizes revenues and expenses for a period, transferring the net result to owner's equity.