It Is the Year End, but Not the Pay Period

question 126

Multiple Choice

It is the year end, but not the pay period end. How will this affect the balance sheet?

• A) Assets will be increased.
• B) Liabilities will be increased.
• C) Owner's equity will be increased.
• D) This has no effect on the period end balance sheet.

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Definitions:

Photosynthetic Organisms

Organisms capable of photosynthesis, a process that converts light energy into chemical energy, sustaining the food chain.

Autotroph

An organism that synthesizes complex organic compounds from simple inorganic raw materials; also called producer or primary producer. Compare with heterotroph. See chemoautotroph and photoautotroph.

Saprotroph

A saprotroph is an organism that feeds on or derives nourishment from decaying organic matter, essential for nutrient cycling in ecosystems.

Food Chain

A series of organisms each dependent on the next as a source of food, illustrating the flow of energy and nutrients from one organism to another.