A Ledger Is An)

question 6

Multiple Choice

A ledger is an) :

• A) running balance of accounts.
• B) record of salaries and wages paid to employees.
• C) accounting record of banking transactions.
• D) book that records customer contacts.

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Definitions:

Non-recurring Measurements

Financial assessments that are unusual or infrequent and not expected to happen often in the future.

Corresponding Asset

An asset that is directly related or linked to another activity or transaction, often in financial reporting or accounting.

Provision For Warranties

An estimate of future costs related to repairing or replacing products under warranty, recognized as a liability on the balance sheet.

Equity Instruments

Financial securities that represent ownership interest in a company, such as stocks.