The Account Numbers from the Chart of Accounts Are

question 5

Multiple Choice

The account numbers from the chart of accounts are

• A)not allowed to be used to prepare journal entries; account names must be used.
• B)allowed to be used to prepare journal entries.
• C)allowed to be used to prepare journal entries if an organization has 100 or more account numbers.
• D)allowed to be used to prepare journal entries if an organization has $1 million or more in total revenues.
• E)allowed to be used to prepare journal entries if an organization also uses the account numbers in financial statements prepared for investors and creditors.

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Definitions:

Distribution Costs

Expenses associated with delivering a product from the manufacturer to the end user, including transportation, storage, and handling.

Power Distance

A cultural dimension that describes the extent to which individuals in a society accept and expect power to be distributed unequally.

Collectivist Nature

A cultural characteristic where people prioritize group goals over individual interests.

Long-Term Orientation

A cultural dimension that describes a society's time horizon, focusing on future rewards, perseverance, and savings.