Which of the Following Accounts Need Not Be Adjusted at Year

question 168

Multiple Choice

Which of the following accounts need not be adjusted at year end?

• A) Prepaid Advertising
• B) Land
• C) Office Supplies
• D) Unearned Revenue

Recognize the significance of organizational ethics and compliance in enhancing non-financial and financial performance.

Identify anticompetitive strategies and their implications for antitrust legislation.

Know key provisions of major financial and ethical regulations including the Sarbanes-Oxley Act and the Dodd-Frank Wall Street Reform and Consumer Protection Act.

Distinguish between different types of laws (civil, criminal, competitive, administrative, regulatory) and their impact on business practices.

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Definitions:

Relevant Range

The level of activity within which assumptions about variable and fixed cost behaviors are valid.

Total Expense Per Unit

is the computation of all costs involved in producing one unit of a product, including both variable and fixed expenses.

Level Of Activity

This refers to the volume of production or the quantity of services provided by a business over a period of time.

Expected Costs

These are forecasted or estimated costs for a product, project, or operation based on historical data and future projections.