When Preparing a Formal Report That Will Be Bound,leave at Least

question 8

Multiple Choice

When preparing a formal report that will be bound,leave at least a

• A) uniform 2-inch margin on all sides.
• B) 2-inch margin at the top and bottom and a 1-inch margin on the sides.
• C) uniform 1½ inch margin on all sides.
• D) 3-inch margin on the left side of each page.
• E) 1-inch margin on three sides and a 1½ inch margin on the bound side.

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Definitions:

Normal Credit Balance

The expected positive balance of certain types of accounts in the double-entry bookkeeping system, such as liabilities, revenues, and equity accounts.

Sales Tax Payable

A liability account in the general ledger that accumulates the amount of sales tax collected from customers on behalf of local or state tax authorities, to be remitted in the future.

Estimated Returns Inventory

A reserve account used by companies to account for anticipated returns of sold goods, affecting the overall sales and inventory levels.

FOB Destination

A shipping term indicating that the seller is responsible for the goods and the shipping cost until the goods reach the buyer's specified location.