After All Postings Have Been Made,the Total of the Schedule

question 68

Multiple Choice

After all postings have been made,the total of the schedule of accounts receivable should equal

• A) the balance of the Sales account.
• B) the total of the Accounts Receivable Debit column in the sales journal.
• C) the balance of the Accounts Receivable account in the general ledger.
• D) the total of all sales on account for the accounting period.

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Definitions:

False Representations

Statements or claims made that are untrue or misleading, often in the context of sales or contracts.

Economic Espionage Act

A federal law passed in 1996 aimed at protecting trade secrets and combatting corporate and economic espionage.

Noncompetition Agreements

Legal contracts preventing an employee from entering into or starting a similar profession or trade in competition against the employer, usually within a specific time frame and geographic area.

Fair Use Doctrine

A legal principle allowing limited use of copyrighted material without requiring permission, usually for purposes like criticism, comment, news reporting, teaching, scholarship, or research.