Consider the Statement: "As Most of You Know,Mega Manufacturing Had

question 29

Multiple Choice

Consider the statement: "As most of you know,Mega Manufacturing had its most profitable year ever last year." One way to make this statement more concise is to

• A) eliminate the passive voice.
• B) remove empty phrases.
• C) replace a prepositional phrase with a verb.
• D) start with "It is" or "There are."
• E) remove redundant words.

---

Definitions:

Cost of Goods Sold

The direct expenses related to the production of goods sold by a company, including the cost of the materials and labor directly used to create the good.

Adjusting Entries

Journal entries made in accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Auditing Standards

These are established regulations and guidelines for the auditing process, ensuring that audits are performed ethically and uniformly.

Recorded

The act of documenting or entering financial transactions in the accounting records of a company.