Use the Following to Answer Questions

question 82

Multiple Choice

Use the following to answer questions :
A geometric sequence has terms a₃ = 576 and a₆ = 243.
-Find the value of a₁.

• A) 256
• B) 1024
• C) 3072
• D) 4096

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Definitions:

Accrual Basis

A bookkeeping approach that recognizes income and expenses at the time they are accrued, rather than when the actual cash transaction occurs.

Adjustments

Modifications made to accounting entries to correct errors or allocate revenues and expenses to the appropriate accounting period.

Match Expenses

The accounting principle that requires expenses to be recorded in the same accounting period as the revenues that are earned as a result of those expenses.

Adjusting Entry

Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.