The ____ Is Used to Represent Output in a Flowchart

question 19

Multiple Choice

The ____ is used to represent output in a flowchart.

• A) square
• B) circle
• C) parallelogram
• D) triangle

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Definitions:

Unearned Revenue

Money received by a company for goods or services yet to be delivered or performed, recognized as a liability on the balance sheet.

Prepaid Expenses

Payments made in advance for goods or services to be received in the future, considered an asset on the balance sheet until utilized.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the ownership's value in the business.

Major Account Groups

Categories used in financial accounting to organize and summarize the financial activities of a business.