_____ Relates to Performance That Can Be Depended Upon with a High

question 1

Multiple Choice

_____ relates to performance that can be depended upon with a high level of assurance.

• A)Aesthetics
• B)Conformance
• C)Durability
• D)Reliability

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Definitions:

Cash

A company's currency or assets that can be immediately used for transactions or payments.

Supplies

Items that are used in the day-to-day operations of a business, often categorized as a current asset on the balance sheet.

Income Summary

The income summary account is used in accounting to transfer revenue and expense account balances to determine the net income or loss for a given period before closing them to the retained earnings account.

Owner's Capital

The amount of money and assets invested in a business by its owner, representing the owner's claim against the company's assets.