Weighted Application Blanks Are Useful Screening Tools for Positions Such

question 11

True/False

Weighted application blanks are useful screening tools for positions such as taxi drivers.

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Definitions:

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Accrual Basis

An accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.

Cash Basis

An accounting method where revenues and expenses are recognized only when cash is exchanged, as opposed to when they are incurred.

Permanent Account

An account that is not closed at the end of the accounting period and its balances are carried forward into the next period.