Elements of the Business Records Exception to Hearsay Include

question 42

Multiple Choice

Elements of the business records exception to hearsay include:

• A) The information needs to be recorded within a reasonable amount of time by someone with knowledge.
• B) The record must be made in the customary course of business.
• C) The custodian of the records is able to testify about the organization's record-keeping practices.
• D) All of the above are correct.

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Definitions:

After-Tax Discount Rate

After-tax discount rate is the rate used to determine the present value of future cash flows after considering the effects of taxes.

Working Capital

The difference between a company's current assets and current liabilities, indicating its operational liquidity.

Straight-Line Depreciation

A strategy for allocating the outlay of a tangible asset through its service duration in equivalent yearly installments.

Straight-Line Depreciation

An accounting method that evenly spreads the expense of an asset over its expected lifespan.