Michelle Has Been Placed in a School Program for Gifted

question 50

Multiple Choice

Michelle has been placed in a school program for gifted children. She was probably selected because she:

• A) has a high IQ.
• B) is a creative thinker.
• C) developed language skills early.
• D) earns good grades.

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Definitions:

Office Supplies

Items used in offices for daily operations, such as paper, pens, and other stationery items, usually considered short-term assets.

Credit Memo

A paper provided by the seller to the buyer that decreases the amount the buyer must pay to the seller, as per a previously issued invoice.

Note Receivable

A written promise for the payment of a specified amount of money, by a debtor to the lender, with interest, at a future date.

Journalize

The process of recording financial transactions in a journal, which is the first step in the accounting cycle.