The First Activity in the General Ledger System Is to Update

question 73

Multiple Choice

The first activity in the general ledger system is to update the general ledger.Updates come from the various accounting subsystems as well as from the treasurer.How is general ledger updating accomplished by the various accounting subsystems?

• A)Individual journal entries for each accounting subsystem transaction update the general ledger every 24 hours.
• B)Summary journal entries that represent the results of all transactions for a certain time period are used to update the general ledger.
• C)The controller or treasurer must approve accounting subsystem journal entries before any updating may occur.
• D)Nonroutine transactions are entered into the system by the treasurer's office.

Identify strategies to manage nervousness before and during an oral presentation.

Understand and differentiate between the types of oral presentations.

Estimate and manage the time required to prepare an effective presentation.

Understand the role and potential downsides of using handouts in presentations.

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Definitions:

Source Inspection

The practice of inspecting goods or materials at the supplier's site before they are shipped to the purchaser, to ensure they meet specified quality standards.

Inspection Goal

The predefined objectives and criteria set for quality control inspections to ensure that products meet required standards and specifications.

Incremental Improvement

A continuous approach to enhancing products, services, or processes through small, actionable steps rather than major overhauls, aiming for consistent progress over time.

Continuous Improvement

An unceasing initiative aimed at elevating products, services, or processes by implementing small-scale and revolutionary improvements.