When Jack Takes a Class,he Saves All His Work for That

question 66

Multiple Choice

When Jack takes a class,he saves all his work for that class with the name of the course.What is most likely happening to his saved files?

• A) Because he is using the same name,the computer knows that the files are different so it adds a number to the name.
• B) Because he is using the same name,each time he saves he is overwriting his previous work.
• C) Because he is using the same name,the second document is put on the Clipboard until he selects a new name.
• D) Because he is using the same name,the computer creates a new folder and saves it there.

Understand the treatment and reporting requirements for specific liabilities such as sales tax and warranty expenses.

Analyze the implications of liabilities on a company’s financial statements and performance.

Understand differences and implications between gross and net methods for accounts payable.

Analyze and construct journal entries for promotional expenses and premium offers.

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Definitions:

Contribution

The right of insurers (more than one) to share a loss where the policies so provide.

Insurers

Companies or entities that provide insurance coverage to individuals, businesses, or other organizations in exchange for premiums.

Co-insurance

An insurance arrangement where the risk is shared between the insurer and the insured, often requiring the insured to pay a specified percentage of the costs of a claim.

Utmost Good Faith

A principle requiring all parties in an agreement or contract to act honestly and not mislead or withhold critical information.