When a Severe Weather Warning Has Been Declared, a Delay

question 33

True/False

When a severe weather warning has been declared, a delay in notice of dishonor is excused to the reasonably diligent holder who was prevented from posting the notice.

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Definitions:

Accrued Salaries

Wages that have been earned by employees but have not yet been paid by the employer.

Adjusting Entry

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

Unadjusted Trial Balance

A listing of all the accounts in the general ledger with their balances before any adjusting entries are made.

Adjusted Trial Balance

A trial balance prepared after adjusting entries have been made and posted to the ledger, used to verify the equality of debits and credits.