Ralph Nader's Book Unsafe at Any Speed Caused Congress to Require

question 92

Multiple Choice

Ralph Nader's book Unsafe at Any Speed caused Congress to require

• A)safety glass in all new cars.
• B)seat belts in all new cars.
• C)air bags in all new cars.
• D)stricter drunk driving laws in all states.

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Definitions:

Accrual Earnings

Earnings that are recognized when revenues are earned and expenses are incurred, not necessarily when cash is received or paid.

Reconciliation

The process of ensuring that two sets of records (usually the balances of two accounts) are in agreement.

Direct Method

The Direct Method in accounting is a way to present the cash flow statement, showing actual cash receipts and payments, directly reporting major classes of gross cash receipts and payments.

Accrual Accounts

Accounts that record revenues and expenses when they are earned or incurred, not necessarily when cash is received or paid.