The Topic Sentence Below Is Followed by a Brainstormed List

question 35

Multiple Choice

The topic sentence below is followed by a brainstormed list of possible ideas for a paragraph. Decide which ideas support the topic sentence and should be kept and which ideas should be dropped. Select "keep" or "drop" for each idea. Topic sentence: Gilberto learned how to play the trumpet, but it took a long time.
His older sister teased him for his horrible playing.

• A) Keep
• B) Drop

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Definitions:

Specific Time Periods

Specific time periods refer to distinct, defined durations used for financial reporting, planning, and analysis, such as quarters or fiscal years.

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is received or paid, respectively.

Recorded When Incurred

An accounting principle that stipulates expenses should be recognized in the financial statements in the period they are incurred, regardless of when the cash payments are made.

Adjusting Entries

Journal entries made at the end of an accounting period to update account balances before financial statements are prepared.