In Practice, Most Companies Use the Discreet Approach in Preparing

question 19

Multiple Choice

In practice, most companies use the discreet approach in preparing their internal interim financial statements. Which of the following costs is usually not included in the financial statements?

• A)Insurance
• B)Income taxes
• C)Maintenance
• D)Bonuses to employees

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Definitions:

Dialog Box

A small window that pops up in a GUI (Graphical User Interface) to provide information to the users or to request input from them.

Italic Button

A user interface control in text editors and word processors that applies the italic style to selected text, making it slant to the right.

Quick Access Toolbar

A customizable toolbar in Microsoft Office applications that provides easy access to frequently used commands.

File Tab

A control element in software applications like Microsoft Office, providing access to file and application specific commands such as Open, Save, and Print.