The Fiduciary Responsibility of a Manager Is Ultimately Based on _____

question 84

Multiple Choice

The fiduciary responsibility of a manager is ultimately based on _____.

• A) educational background
• B) experience
• C) charisma
• D) trust

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Definitions:

Adjusting Entry

An accounting journal entry made at the end of an accounting period to allocate income and expenditure to the appropriate period.

Unrelated Year-end Adjustments

Adjustments made to the financial statements at year-end that do not pertain to the normal operations of the business.

Prepaid Insurance

An asset account representing payments made for insurance coverage before the coverage period.

Accrued Salaries

Salaries that have been incurred but not yet paid; an expense that represents the amount of salary earned by employees but not disbursed by the end of the accounting period.