Describe (A)two Strategies for Preventing Fires, (B)two Strategies for Preparing

question 27

Essay

Describe (a)two strategies for preventing fires, (b)two strategies for preparing for fire-related situations,and (c)three strategies for preventing injuries should a fire occur.For part (c),include what you should do if your clothes catch fire.

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Definitions:

Prepaid Expenses

Expenses paid in advance by a company for goods or services to be received in the future.

Adjusting Process

The procedure used in accounting to record and reconcile expenses and revenues in the appropriate accounting period.

Accrued Expenses

Expenses that have been incurred but not yet paid, recognized on the books before they are paid for.

Accrued Revenues

Revenues earned during a specific accounting period but not yet received in cash or recorded in the books.