What Is an ISP

question 85

Multiple Choice

What is an ISP?

• A) Instant service provider is a company that provides access to the Internet for a monthly fee.
• B) Internet service provider is a company that provides access to the Internet for a monthly fee.
• C) Internet sales provider is a company that provides access to the Internet for a monthly fee.
• D) Instant sales provider is a company that provides access to the Internet for a monthly fee.

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Definitions:

Adjusting Entry

An accounting entry made at the end of an accounting period to allocate revenues and expenses to the period in which they actually occurred.

Reversing Entry

An entry, made at the beginning of the next accounting period that is the exact opposite of the adjusting entry made in the previous period.

Disposes

Acts of transferring ownership or getting rid of assets, including selling, discarding, or recycling them.

Reversing Entries

Journal entries made at the beginning of an accounting period to reverse or cancel out adjusting journal entries made at the end of the previous period.