During the General Ledger and Financial Reporting Cycle

question 20

Multiple Choice

During the general ledger and financial reporting cycle:

• A)Budgets are created and agreed upon.
• B)Transactional level data is accumulated,summarised,adjusted and reported to internal users.
• C)Transactional level data is accumulated,summarised,adjusted and reported to external users.
• D)All of the options are correct.

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Definitions:

Sporadically

Occurring at irregular intervals or only in a few places; scattered or isolated.

Classical Conditioning

A learning process that occurs when two stimuli are repeatedly paired; a response that is at first elicited by the second stimulus is eventually elicited by the first stimulus alone.

Stimulus Generalization

The tendency for the conditioned stimulus to evoke similar responses after the response has been conditioned.

Conditioned Stimulus

A previously neutral stimulus that, after becoming associated with an unconditioned stimulus, evokes a conditioned response.