One of the Most Noticeable Effects of the Downsizing Epidemic

question 47

Multiple Choice

One of the most noticeable effects of the downsizing epidemic of the last two decades has been a dramatic rise in the use of _______________.

• A) temporary employees
• B) summer internships
• C) college recruiters
• D) subcontractors

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Definitions:

Reversing Entry

An entry, made at the beginning of the next accounting period that is the exact opposite of the adjusting entry made in the previous period.

Disposes

Acts of transferring ownership or getting rid of assets, including selling, discarding, or recycling them.

Reversing Entries

Journal entries made at the beginning of an accounting period to reverse or cancel out adjusting journal entries made at the end of the previous period.

General Ledger

The complete set of accounts that summarizes all transactions occurring within a company, serving as a primary tool for financial reporting.