SCENARIO 1-3 Allison and Gail Are Both University Students Studying for a for a Final

question 58

Multiple Choice

SCENARIO 1-3
Allison and Gail are both university students studying for a final exam in OB.Both students have a goal of making a grade of 90 percent or better despite the time pressures they seem to be facing.Gail studied diligently for six hours and made a grade of 92 percent.Allison studied diligently for nine hours and also made a grade of 92 percent.

-Referring to SCENARIO 1-3,which student was more productive?

• A)Allison
• B)Gail
• C)both
• D)neither
• E)it is impossible to tell from the information given

Describe the process and accounting treatment for change funds and their differences from petty cash.

Understand how to establish and adjust a petty cash fund.

Learn how to reconcile the petty cash fund by accounting for cash shortages and overages.

Ability to prepare journal entries for petty cash transactions including fund establishment, replenishment, and adjustment.

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Definitions:

Timeplot

A graphical representation of how a variable changes over time, displaying data points connected by lines to show trends or patterns.

Annual Profits

The net earnings of a company over a one-year period after all expenses have been deducted from its total revenue.

Distribution

In statistics, the way in which values of a variable or a set of variables spread out across a data set or population.

Government Workers

Individuals employed by federal, state, local, or international government agencies.