According to the Text,unstructured Questions Are Also Referred to as Free-Response

question 36

True/False

According to the text,unstructured questions are also referred to as free-response or free-answer questions.

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Definitions:

Financial Statements

Formal records of the financial activities and position of a business, person, or other entity, summarizing transactions over a period.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditure to the appropriate years.

Permanent Accounts

Accounts that carry their balances over into the next accounting period, including assets, liabilities, and equity accounts.