Complete the Following Using the Terms Listed

question 99

Multiple Choice

Complete the following using the terms listed.
-The accounting method that records revenues and expenses when they occur is called _____.

• A)certified public accountant
• B)International Financial Reporting Standards
• C)asset
• D)liability
• E)Owners' equity
• F)accounting equation
• G)balance sheet
• H)income statement
• I)Sarbanes-Oxley Act (SOX)
• J)accrual accounting
• K)open book management
• L)budget
• M)generally accepted accounting principles (GAAP)
• N)Financial Accounting Standards Board (FASB)
• O)profitability ratios
• P)International Accounting Standards Committee (IASC)
• Q)Leverage ratios
• R)management accountant

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Definitions:

On-Site Day-Care

A childcare facility located at or near a workplace, designed to provide convenience to employees with young children.

Fringe Benefit

Additional compensations given to employees beyond their base salary, such as health insurance, retirement plans, and paid time off.

Sexual Harassment

Unwelcome sexual advances, requests for sexual favors, and other verbal or physical conduct of a sexual nature.

Supreme Court

The highest judicial court in a country or state.