A company's ledger is:
A. A journal in which transactions are first recorded.
B. A record containing all accounts and their balances used by the company.
C. A collection of documents that describe transactions and events entering the accounting process.
D. A list of all identification numbers used by the company.
E. A record containing increases and decreases in a specific asset, liability, equity, revenue, or expense item.
Answer: B
You might also like to view...
When reviewing Porter's value chain analysis, which of the following provides customer support after the sale of goods and services?
A. Outbound logistics B. Service C. Inbound logistics D. Operations
Which of the following is an example of a retailer using mobile marketing to enrich the customer's shopping experience at the same time that they stimulate buying?
A) Lacey's department store uses a virtual tour app of Paris to promote a week-long celebration revolving around French-themed clothing, jewelry, and fragrances in their stores. B) Sharie's boutique issues mobile coupons to existing customers. C) Java Lava sends a special e-mail to customers that displays fireworks when it's opened to celebrate the store's 1-year anniversary. D) Books Abound uses an app to introduce customers to newly released books that are tailored to their reading preferences. E) The Music Store launches an app that plays 10 seconds of a new song every time users access it.
In most businesses, cost standards are established principally by accountants
Indicate whether the statement is true or false
A(n) ____ is a variable that can store and handle multiple values of the same data type as one unit.
A. composite data type B. collection C. record D. assignment statement