Use the Following to Answer Questions

question 3

Multiple Choice

Use the following to answer questions :
Figure: Hot Drinks Sold and Temperature
-(Figure: Hot Drinks Sold and Temperature) Look at the figure Hot Drinks Sold and Temperature. If we move from point J to point L in the figure, the outside temperature has ______ degrees and the number of hot drinks sold has ______.

• A)decreased by 30; increased by 30
• B)increased by 20; decreased by 20
• C)increased by 30; decreased by 30
• D)increased by 40; decreased by 40

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Definitions:

Closing Process

The closing process involves the steps taken to finalize all accounting records and summarize financial activities for a specific period, preparing for the next accounting cycle.

Financial Statements

Documents that provide an overview of a company's financial condition, including income statement, balance sheet, and cash flow statement.

Adjusted Trial Balance

A financial statement that lists all account titles and their balances after adjusting entries are made, ensuring the total debits equal total credits.

10-Column Worksheet

An accounting tool used for drafting preliminary financial statements, consisting of columns for trial balances, adjustments, and balances.