Which of the Following Is the BEST Example of a Standard

question 18

Multiple Choice

Which of the following is the BEST example of a standard operating procedure?

• A) The "Do Not Litter" sign in the city park
• B) The high school plan for dealing with a student with a learning disability
• C) The Dairy Queen restaurant's plan for how to make a banana split
• D) The way students are selected for college admission
• E) The plan to build an equestrian site for the 2004 Olympics

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Definitions:

Capital Assets

Long-term assets that a business uses in its operations and that are not intended for resale, such as property, plant, and equipment.

Deferral Method

An accounting practice that involves postponing the recognition of revenue or expenses until a future date.

Restricted Fund Method

An accounting practice for nonprofit organizations, segregating funds according to restrictions imposed by donors.

Deferral Method

A method of accounting that allows for income or expenses to be recognized at a later date rather than when they are initially incurred.