The Ability for a Consumer to Assess, Analyse, Evaluate, and Communicate

question 37

Multiple Choice

The ability for a consumer to assess, analyse, evaluate, and communicate information in a variety of forms including print and non-print messages is known as ________.

• A)analytical literacy
• B)functional literacy
• C)media literacy
• D)consumer literacy

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Definitions:

Recorded

The act of entering financial transactions into the accounting records of a company.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments are made, used to prepare financial statements.

Posting

The process of transferring journal entries to their respective accounts in the ledger, facilitating the organization and tracking of financial data.

Financial Statements

Formal reports of the financial activities and condition of a business, individual, or other entity.