A General Rule Is That A(n) _____ Element Is Appropriate

question 25

Multiple Choice

A general rule is that a(n) _____ element is appropriate only if the element's contents would be listed explicitly in the document's outline.

• A) aside
• B) summary
• C) details
• D) section

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Definitions:

Bank Reconciliation

The process of matching and comparing figures from the accounting records against those shown on a bank statement to ensure consistency.

Days' Sales Uncollected

Days' sales uncollected is a financial metric that estimates the average number of days it takes for a company to collect payments from its credit sales, reflecting on the efficiency of its credit and collection policies.

Receivables

Amounts owed to a company by its customers for goods or services provided on credit.

Internal Control

Strategies and systems put in place by an organization to maintain the reliability of its financial and accounting data, encourage responsible behavior, and deter deceitful practices.