Which of the Following Bookkeeping Techniques Generally Is Not Acceptable

question 154

Multiple Choice

Which of the following bookkeeping techniques generally is not acceptable?

• A) Dollar signs on financial statements
• B) Commas and periods in ruled columns
• C) A double line after final totals
• D) A dash in the cents column to indicate zero cents

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Definitions:

Financial Lease

A type of lease where the lessee has use of an asset through its useful life, often with ownership transferring at the end.

Fully Amortized

Refers to a loan where the principal and interest are paid off completely over the loan term.

Lessor's Cost

The expenses incurred by a lessor (the property owner) when leasing out an asset, including maintenance, taxes, and any other costs related to the asset's upkeep.

Operating Lease

Usually a shorter-term lease where the lessor is responsible for insurance, taxes, and upkeep. Often cancellable on short notice.