11,Between July 2012 and August 2014,Uber Launched in 42 Countries

question 39

True/False

11,Between July 2012 and August 2014,Uber launched in 42 countries outside the US.The speed of this global rollout may be viewed as an attempt to pre-empt the market for ride-sharing services.

---

Definitions:

Current Asset

Resources anticipated to be turned into cash, disposed of, or used up within a period of one year or the duration of the business's operational cycle, depending on which timeframe extends further.

Current Liability

A financial obligation that is due within one year or within the normal operating cycle of a business, which typically includes accounts payable, short-term loans, and accrued liabilities.

Reversing Entry

An accounting technique used to simplify record-keeping, where an entry made in one accounting period is reversed in the next period to allow for straightforward transaction recording.

Adjusting Journal Entry

A journal entry made at the end of an accounting period to record any unrecorded income or expenses for that period, ensuring that financial statements adhere to the accrual basis of accounting.