Kemar Owns a Small Web-Development Startup and Has Experienced a 23

question 221

Multiple Choice

Kemar owns a small Web-development startup and has experienced a 23% increase in overhead costs over the last three years.To cut costs,Kemar has scaled back the number of employees working in the office on a daily basis and is thinking about homeshoring as a viable option to further trim expenses. Required:
Which of the following is a potential drawback of homeshoring?​

• A)​increased supervision
• B)​decreased service demand
• C)​decreased employee productivity
• D)​increased use of energy and resources
• E)​increased expenses for health insurance

Recognize the significance and usage of the Customer List in QBO.

Identify the meaning and characteristics of a transaction in a business context.

Understand the principles of debits and credits in accounting.

Comprehend the treatment and purpose of Equity Accounts in accounting.

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Definitions:

Financial Statements

Formal records that convey the business activities and financial performance of a company, including balance sheet, income statement, and cash flow statement.

Closing Entries

These are journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts.

Income Statement

A financial statement that reports a company's revenues, expenses, and profits over a specific period, showing how net income is derived from business operations.

Adjusted Trial Balance

A list of all accounts and their balances after adjustments, used to prepare financial statements.