What Is FIRA

question 73

Multiple Choice

What is FIRA?

• A)An organization to assist working mothers with feminist issues.
• B)An organization that promotes awareness of issues surrounding paternal care of children
• C)An outreach program for homemakers whose futures depend on re-entering the workforce.
• D)Aid to families with children who require rehabilitation due to developmental delays.

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Definitions:

Permanent Account

A balance sheet account that carries its ending balance over to the next accounting period, such as assets, liabilities, and equity accounts.

Accounting Cycle

The process of recording and processing all financial transactions of a company, from the time the transaction occurs, to its representation on financial statements.

Adjusted Trial Balance

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

Adjustment Columns

Columns in financial statements or ledgers used to make necessary adjustments for accrual accounting, such as for accrued expenses or revenues.