One Way of Ensuring That Recurring Adjusting Journal Entries Are

question 81

Multiple Choice

One way of ensuring that recurring adjusting journal entries are made each month would be to

• A)make all the entries a month in advance.
• B)rotate the responsibility among the accounting staff.
• C)program the entries to be made automatically.
• D)create a standard adjusting journal entry file.

Understand different types of control mechanisms in management (feedforward, concurrent, feedback).

Recognize the steps in implementing a crisis management program.

Describe the concept of executive reality checks and their importance in management.

Identify the principles of Total Quality Management (TQM) and how they apply to business operations.

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Definitions:

Maturity Date

The date on which the principal amount of a loan, bond, or other financial instrument becomes due and payable.

Note Receivable

A written promise for amounts to be received by a creditor from a debtor, typically generating interest income for the holder.

Interest

The cost of borrowing money or the payment received for the investment of money, typically expressed as a percentage of the principal.

Maturity Value

Maturity Value is the amount payable to an investor at the maturity date of a financial instrument, typically including the principal and the interest.