Which of the Following Are You Less Likely to See

question 71

Multiple Choice

Which of the following are you less likely to see in a confederation than in a federation?

• A) legislative body
• B) executive
• C) court system
• D) national military
• E) taxes and/or fines

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Definitions:

General Journal

An accounting ledger where all types of transactions are initially recorded before being transferred to specific accounts.

Subsidiary Ledger

A detailed ledger that contains account information relating to specific areas like accounts receivable or payable, supporting the general ledger.

General Ledger

The master set of accounts that aggregates all transactions recorded for a business.

Subsidiary Ledger

A detailed ledger that contains the supporting documents for a specific main account, such as accounts payable or receivable, to keep the general ledger uncluttered.