All of the Following Are Examples of Direct Goods in the Auto

question 63

Multiple Choice

All of the following are examples of direct goods in the auto industry except:

• A) sheet steel.
• B) shatter-resistant glass.
• C) rubber molding.
• D) desktop computers.

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Definitions:

Journalizing

The process of recording a transaction in the journal.

Adjustments and Closing Entries

The journal entries made at the end of an accounting period to allocate income and expenditures to the appropriate periods.

Ledger

A book or database in which financial transactions are recorded, organized by account.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby resetting the temporary accounts for the next period.