INSTRUCTIONS: Choose the Word or Phrase in [ ] Which

question 169

Multiple Choice

INSTRUCTIONS: Choose the word or phrase in [ ] which will correctly complete the statement. Select
-Once you define your [short-term | long-term] financial goals,you can prepare a cash budget for the upcoming year.

• A)for the first item
• B)for the second item
• C)if neither item will correctly complete the statement.

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Definitions:

Equipment

Tangible assets used in operations, such as machinery or office hardware, that have a useful life longer than one reporting period.

Subscription

An agreement to purchase a product or service on a recurring basis or to receive regular deliveries or access to content.

Adjusting Entries

Journal entries made in accounting to update the records for expenses and revenues that have accrued but are not yet recorded.

Daily Wages

The amount of money that a worker earns for one day of labor.