Data Gathering Through the Use of ______ Is When Data

question 32

Multiple Choice

Data gathering through the use of ______ is when data are generally readily available because they are produced during the ordinary course of organizational activity.

• A) interviews
• B) surveys/questionnaires
• C) observations
• D) unobtrusive measures

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Definitions:

Accounting Period

A specific time period at the end of which an entity prepares financial statements to assess its financial performance and position.

Budgeting

The process of creating a plan to spend your money, allocating the estimated income towards various categories of expenses.

Financial Statements

Summary reports that convey the financial activities and condition of a business or individual.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts.