The W3C Is Developing Standards for A(n)__________,or Ways of Describing

question 73

Multiple Choice

The W3C is developing standards for a(n) __________,or ways of describing data so that it can be used by a wide variety of applications.

• A)metadata language
• B)Semantic Web
• C)database portal
• D)RDF language

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Definitions:

Normal Balance

The side of an account (debit or credit) on which increases in the account are recorded, depending on the account type.

Financial Statement

Reports that provide an overview of a company's financial condition at a specific time, including income statement, balance sheet, and cash flow statement.

Permanent/Temporary

Refers to the two broad categories of accounts in accounting: permanent accounts track long-term financial activity, whereas temporary accounts are closed at the end of each accounting period.

Reversing Entries

Optional bookkeeping technique in which certain adjusting entries are reversed or switched on the first day of the new accounting period so that transactions in the new period can be recorded without referring back to prior adjusting entries.