When You Wear a Backpack, Your Center of Gravity Shifts

question 45

Multiple Choice

When you wear a backpack, your center of gravity shifts in which direction?

• A) up
• B) back
• C) forward
• D) up and back

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Definitions:

Expense Accounts

Accounts used to record the consumption of economic benefits during the operational activities of a business.

Asset Accounts

Asset Accounts are financial ledger accounts that report the value of tangible and intangible items owned by an entity, such as cash, inventory, and equipment.

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is received or paid, regardless of when the transaction occurred.

Financial Statements

Papers presenting a snapshot of a firm's financial health, which include the balance sheet, income statement, and cash flow statement.