Examlex
Which of the following columns would be used as part of a general journal entry? (Select all that apply.)
GIC
Stands for Guaranteed Investment Certificate, a secure investment that promises to return your principal plus interest.
Investment Savings
Funds set aside in financial instruments or accounts with the goal of generating income or profit over time.
Simple Interest
Interest earned only on the original principal amount, without compounding.
Daily Closing Balance
The amount of money in an account at the end of each business day, after all transactions have been accounted for.
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