A Spring Tide Has a Greater Tidal Range Than a Neap

question 39

True/False

A spring tide has a greater tidal range than a neap tide, and only occurs during the spring and summer months in each hemisphere.

---

Definitions:

Contra Revenue Accounts

Accounts that are used to record reductions in revenue, such as sales returns, allowances, and discounts.

Sales Discounts

Reductions from the listed or invoice price of goods or services, provided by the seller as an incentive for early payment by the buyer.

Cost of Goods Sold

Expenses directly linked to manufacturing goods for sale, covering both the cost of materials used and the wages for labor.

Closing Process

The year-end procedure used in accounting to transfer balances from temporary accounts to permanent accounts, preparing the books for the next fiscal period.