An Accounts Payable Ledger

question 41

Multiple Choice

An accounts payable ledger:

• A)Contains an account for each credit customer.
• B)Lists the balances of selected accounts that are added to show the total amount of the significant long-term creditors outstanding.
• C)Is a book of original entry designed and used for recording only a specified type of transaction.
• D)Contains the financial statement accounts of a business.
• E)Contains a separate account for each creditor (supplier)to the company.

Analyze the impact of excise taxes on government revenue.

Understand the concept of tax incidence and how the burden of a tax is divided between buyers and sellers.

Analyze the factors that influence the incidence of taxation between buyers and sellers.

Understand the concept of deadweight loss resulting from a tax and its implications on market efficiency.

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Definitions:

Shading Coil

A large copper wire or band connected around part of a magnetic pole piece to oppose a change of magnetic flux.

Shaded-pole Induction Motor

A type of single-phase induction motor which operates by creating a rotating magnetic field using a shading coil.

Secondary Winding

Part of a transformer that receives energy from the primary winding and transmits it to the load.

Shorted

A condition in which an electrical circuit bypasses its intended path due to a direct path of low resistance.