A Bride Service Is Best Described as __________

question 135

Multiple Choice

A bride service is best described as __________.

• A)a substantial gift of money or property from the groom and his kin to the bride and her kin
• B)an arrangement in which the groom is obligated to work for the bride's family for a designated period before and/or after the marriage
• C)a transfer of money or property from the bride's family to the groom and his family upon marriage
• D)the custom of the bride's family paying for the wedding reception

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Definitions:

Accrued Expenses

Liabilities (payables) created when expenses are incurred, but cash will be paid in the future; created at end of period during the adjustment process to reflect the amount of expense incurred that the company will pay in the future.

Depreciation Expense

Distributing the expense of a physical asset throughout its lifespan.

Accrue Interest Expense

The recording of interest expense that has been incurred but not yet paid, typically on borrowed funds.

Financial Statements

These are formal records that outline the financial activities and condition of a business, entity, or individual.