The Most Basic Journal,which Is a Chronologic Listing of Each

question 39

Multiple Choice

The most basic journal,which is a chronologic listing of each business and financial transaction is a/an:

• A) general journal.
• B) payroll journal.
• C) disbursements journal.
• D) accounts receivable ledger.

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Definitions:

Private Producers

Individuals or companies that produce goods or services in an economy that are not owned by the state.

Taxpayer

An individual or entity that is obligated to make payments to a governmental authority, usually in the form of taxes on income, property, or purchases.

Invisible Hand

A metaphor used by Adam Smith to describe the self-regulating nature of the market, where individual self-interest promotes societal benefit.

Economic Policy

Strategies and actions taken by the government to influence its economy, affecting issues like unemployment, inflation, and economic growth.