Which of the Following Is True of Typical Accounting Functions

question 13

Multiple Choice

Which of the following is true of typical accounting functions used in businesses?

• A) Inventory accounting facilitates maintenance of appropriate levels of inventory and aids in calculation of appropriate stocking and reorder levels.
• B) Fixed assets record the improvements to leased property or equipment made by the business.
• C) Payroll records automatically calculate and accumulate depreciation.
• D) Accounts receivable records track what one owes and helps to make timely payments.

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Definitions:

Southern Christian Leadership Conference

An African American civil rights organization founded in 1957, closely associated with Dr. Martin Luther King Jr., which played a major role in the civil rights movement.

Mississippi's Black Adults

A demographic group referring to African American adults residing in the state of Mississippi, potentially focusing on their social, economic, or political conditions.

Registered To Vote

The status of having one's name officially listed to participate in elections and vote.

Sit-In

A form of protest in which individuals occupy an area, refusing to leave until their demands are met, historically used in civil rights movements to protest segregation.