Jenna Has Been Given the Assignment of Determining How Many

question 46

Multiple Choice

Jenna has been given the assignment of determining how many new tellers her bank will need to hire over the next five years. Which of the following questions is irrelevant to her task?

• A) How many tellers are expected to retire over the next five years?
• B) What new technologies (e.g., automated teller machines) will be introduced over the next five years?
• C) How many new branches does the bank expect to open over the next five years?
• D) All of these are relevant.
• E) All of these are irrelevant.

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Definitions:

Expense Accounts

Accounts used to record the consumption of assets or services that result in a decrease in owner's equity, excluding the withdrawal of business assets by the owner.

Income Summary Account

A temporary accounting ledger that aggregates all income and expenses over a period to calculate net profit or loss.

Adjusting Entries

Bookkeeping entries recorded at the conclusion of an accounting cycle to apportion earnings and outlays to the appropriate period.

Interim Periods

Monthly or quarterly accounting time periods.