If You Add Departments to an Account -

question 10

Multiple Choice

If you add departments to an account -

• A)the department is added automatically to the journal when you choose the account
• B)the department is added automatically to the journal if it is the only department linked to the account
• C)you must choose the department for the account in a journal to add it to the transaction
• D)you can change the default department for an account in the journal

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Definitions:

Cash Flows

All money transactions entering and leaving a firm, with a significant influence on its liquidity.

Interest Payments

The amount paid by a borrower to a lender as compensation for the use of borrowed money.

Debt

Debt refers to money borrowed by one party from another, under the condition that it is to be repaid, usually with interest.

Externality

An economic term referring to a cost or benefit incurred or received by a third party who has no control over how that cost or benefit was created.