In Tight Economies, Which of the Following Is Most Accepting

question 45

Multiple Choice

In tight economies, which of the following is most accepting of risk?

• A) Leasing companies
• B) Factors
• C) Suppliers
• D) Commercial banks
• E) Commercial finance companies

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Definitions:

Trial Balance

An accounting report listing all the balances in each general ledger account at a point in time, used to verify the accuracy of bookkeeping entries.

Balance

The amount of money present in an account or the difference between the total debits and credits in an account.

Wrong Account

An error where financial transactions are recorded in an incorrect account, potentially affecting the accuracy of financial statements.

Chart of Accounts

An organized list of all accounts in a business's financial system, which helps in recording transactions in the correct accounts.