Rules That Govern Behavior and Apply to All Members of a Group

question 80

Multiple Choice

Rules that govern behavior and apply to all members of a group are called ________.

• A) roles
• B) patterns
• C) laws
• D) norms

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Definitions:

Period End

The conclusion of a specific accounting period, at which point financial statements are prepared.

Adjusting Entry

A journal entry made in accounting records at the end of an accounting period to allocate income and expenditure to the appropriate periods.

Adjusting Entries

At the conclusion of an accounting cycle, entries are documented in the accounting ledger to distribute revenues and costs to the actual period they happened.

Types

Varieties or classifications into which objects, people, or concepts can be grouped based on shared characteristics.