Which of the Following Is True of Taking Minutes at a Meeting

question 39

Multiple Choice

Which of the following is true of taking minutes at a meeting?

• A) All minutes are highly formal, with headings and complete sentences.
• B) All minutes should note excused or unexcused absences.
• C) Minutes should reflect an objective account of the topics covered at the meeting.
• D) Recorded minutes are always voted on by group members before they are accepted.
• E) All meeting minutes are informal and generally resemble casually written notes.

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Definitions:

Firm's Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time, giving a snapshot of its financial condition.

Generally Accepted Accounting Principles

A collection of commonly followed accounting rules and standards for financial reporting.

CRA

CRA can refer to a Credit Rating Agency, which is an organization that assigns credit ratings to issuers of certain types of debt securities, as well as the debt instruments themselves.

Economic Life

The expected period of time during which an asset is useful to the average owner, or until an asset is projected to generate economic benefits.