Explanatory Studies Are Designed to Find Out What Is Happening

question 39

True/False

Explanatory studies are designed to find out what is happening to whom,where,and when.

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Definitions:

Ledger

A book or other collection of financial accounts of a particular type, where transactions are recorded.

Normal Balances

The side (debit or credit) of an account that is increased, reflecting the account's natural balance.

Normal Debit Balance

In accounting, refers to the side of an account that is typically increased with a debit entry, such as assets, expenses, and losses.

Revenues

The total amount of money received by a company from its business activities, before any deductions are made.