Packaging

question 133

Multiple Choice

Packaging

• A)is any box,bottle,jar,can,carton,or bag that can be used for transporting services.
• B)is any container in which a product is offered for sale and on which label information is communicated.
• C)is that part of a product that is not recycled.
• D)identifies the product or brand,who made it,where and when it was made,how it is to be used,and the contents and ingredients.
• E)is any container used in the preservation of ideas.

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Definitions:

Income Summary

An account used in closing entries to summarize revenues and expenses for a specific accounting period before transferring the net income to retained earnings.

Reversing Entries

Accounting entries made at the beginning of a new period to negate the effects of adjustments made at the end of the previous period.

Accrued Wages

Wages that have been earned by employees but have not yet been paid by the end of the accounting period.

Wages Payable

Liabilities representing the amounts owed to employees for work performed but not yet paid.