The Text Following an Equal Sign (=)Is A(n)____

question 27

Multiple Choice

The text following an equal sign (=) is a(n) ____.

• A) formula
• B) cell reference
• C) function
• D) argument

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Definitions:

Journal Entries

Written records of all the financial transactions of a business, which are then used to prepare financial statements.

Debits Equals Credits

A fundamental principle of accounting stating that for every transaction, the total debits must equal the total credits in a double-entry bookkeeping system.

Posting Reference Notation

A symbol, number, or letter added to ledger entries to identify the source document or journal where the transaction was first recorded.

Ledger

A comprehensive collection of accounts that records all financial transactions of a business, organized to show the financial status and activities.