An Adjustment Must Be Made at the End of an Accounting

question 181

True/False

An adjustment must be made at the end of an accounting period to accrue the interest expense on bonds payable and to amortize any related premium or discount from the last interest payment date to the end of the fiscal year.

---

Definitions:

Completeness Check

A verification step to ensure that all necessary information or components are present and accounted for, often used in data processing or submission processes.

Decision-making Processes

Methods or protocols followed by individuals or organizations to arrive at conclusions or make choices from available options.

Human Experts

Individuals who possess extensive knowledge or skills in a particular area, often gained through years of experience or study.

Business Intelligence

The use of data analysis tools and applications to help executives and managers make informed business decisions by analyzing available business data.