Closing Formats: ​

question 39

Short Answer

Closing formats:
​
A.Dyads
B.Leader summary
C.Member summary
D.Round
E.Written reaction​
-Time is running short and the session was powerful; each member has shared deeply.The leader wants everyone to be able to process the session before closing but is also mindful of the time.​

Understand how to record income tax expense and the effect of deferred items on tax liability and expense.

Comprehend the accounting for capital leases, including the recording of lease acquisition and installment payments.

Grasp the concepts of non-interest-bearing notes and the accrual of interest expense over time.

Understand the calculation and recording of equal annual payments on notes payable that include principal and interest.

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Definitions:

Nearest Cent

Rounding an amount to the closest one-hundredth of a monetary unit, commonly used in financial transactions to simplify figures.

Six-Figure Accuracy

Definition: A term typically used to refer to a very high level of precision or correctness, often in financial contexts, indicating numbers in the hundreds of thousands.

Superscript

A typographical feature where a character, such as a number or letter, is set slightly above the normal line of text.

Accurate To Cent

A measure of precision in financial calculations where values are rounded to the nearest cent.