The Specialized Accounting Book in Which Information from Journals Is

question 213

Multiple Choice

The specialized accounting book in which information from journals is accumulated into specific categories is called a:

• A)journal.
• B)trial balance.
• C)ledger.
• D)balance sheet.

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Definitions:

Exports

Goods or services produced in one country and sold to buyers in another country.

Financial Account

Refers to a component of a country's balance of payments that records investments and financial transactions, including investments in foreign securities and direct investments.

Capital Account

The capital account records the exchanges of financial assets and liabilities between a country and the rest of the world, including direct investment and loans.

Current Account

A component of a country's balance of payments that includes transactions in goods, services, primary income, and secondary income flows between domestic and foreign entities.