A Reference Document Describes How to Perform a Business Task

question 44

True/False

A reference document describes how to perform a business task that typically requires several computer functions or steps.

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Definitions:

Accrue Salaries Payable

Accrue Salaries Payable involves recording the salaries earned by employees that have not yet been paid, recognizing the liability before the cash is disbursed.

Closing Entry

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thus preparing the books for the next period.

Reversing Entry

An accounting entry made at the beginning of a period to reverse the effects of certain adjustments made in the previous period.