A Number in the Reference Column in a General Journal

question 108

Multiple Choice

A number in the reference column in a general journal indicates

• A) that the entry has been posted to a particular account.
• B) the page number of the journal.
• C) the dollar amount of the transaction.
• D) the date of the transaction.

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Definitions:

Marginal Benefit

The increased benefit derived from the utilization of one more unit of a good or service.

Marginal Cost

The cost added by producing one additional unit of a product, focusing on changes in overall cost with slight increases in production.

Sunk Costs

Costs that have already been incurred and cannot be recovered.

Marginal Analysis

The examination of the benefits and costs of an additional unit of consumption or production to make decisions on allocations of resources.