Which Statement BEST Describes Routine Reports

question 28

Multiple Choice

Which statement BEST describes routine reports?

• A) They should be written in an informal style.
• B) Few employees are required to prepare them.
• C) They have little value in the overall management of a business.
• D) They are often based on the writer's experience and related notes or files.

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Definitions:

Salaries Expense

The total amount paid to employees for services rendered during a specific period, recognized in the accounting period in which the employees performed the services.

Posting Reference

An identifier or code that links journal entries to the relevant accounts in the general ledger, facilitating tracking and auditing.

Journal

A record where all of a company's financial transactions are initially documented in chronological order.

Posting Process

The act of transferring journal entries to their respective accounts in the ledger.