Which of the Following Would Not Be a Valid Reason

question 64

Multiple Choice

Which of the following would not be a valid reason for keeping currency on hand at a place of business?

• A)To pay small,unforeseen expenses
• B)To make up for any imbalance in the books
• C)To advance money to sales reps for travel expenses
• D)To provide money for cash registers

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Definitions:

Subsidiary's Separate-entity Earnings

The net income or loss generated by a subsidiary, considered independently before any adjustments for intercompany transactions or consolidation.

Non-controlling Interest

A financial interest in a subsidiary that is not enough to exert control over its policies, usually shown as a separate element of equity in the consolidated financial statements.

Accumulated Depreciation

The total amount of a tangible asset's cost that has been allocated as depreciation expense since the asset was put into use.

Common Shares

A type of equity security representing ownership in a corporation, entitling holders to dividends and voting rights, among other rights.