Committed Resources Are

question 34

Multiple Choice

Committed resources are

• A)hard to purchase.
• B)purchased precisely at the time the resource is needed and have no unused capacity.
• C)supplied in advance of usage and may have unused capacity.
• D)none of the above.

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Definitions:

Adjusted Trial Balance

A statement listing all accounts and their balances after adjustments, used to verify the equality of debits and credits before preparing financial statements.

Unadjusted Trial Balance

A preliminary list of all accounts and their balances used in accounting, before any adjustments are made for the closing entries.

Working Capital

The difference between a company's current assets and current liabilities, indicating the liquidity and operational efficiency.

Current Liabilities

Short-term financial obligations that are due to be paid within one year or within the business's operating cycle.