Examlex

Solved

In Column C,there Are Too Many Numbers After the Decimal

question 108

Multiple Choice

In column C,there are too many numbers after the decimal place.Karl does not need this level of detail as it is distracting from the data,and you really don't need more than two numbers after the decimal.How could Karl make the data appear cleaner?


Definitions:

Financial Statement

A written report that quantitatively describes the financial health of a company, including balance sheets, income statements, and cash flow statements.

Permanent/Temporary

Classification of accounts where permanent accounts are balance sheet items carrying over to the next financial period, while temporary accounts are income statement items closed at the end of the period.

Normal Balance

The side (debit or credit) of an account that is expected to have a higher balance, reflecting its nature in accounting equations.

Financial Statement

Documentation that shows an entity's financial status at a specific time, including balance sheets, income statements, and cash flow statements.

Related Questions