Which of the Following Statements Is True

question 20

Multiple Choice

Which of the following statements is true?

• A)To conserve resources,it is best if the owner uses one Checking account for both personal and business purposes
• B)To maintain more consistent records,it is best if the owner maintains a separate personal Checking account,but both the owner's personal Checking and business Checking accounts are listed in the Chart of Accounts
• C)To maintain separation between the personal and business accounting records,the owner's personal Checking account should not be used to pay bills for the business and should not be listed in the business' Chart of Accounts
• D)None of the choices are correct

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Definitions:

Government Agencies

Organizations at the federal, state, or local level that administer specific functions and services on behalf of the government.

Parent Companies

Corporations that own a controlling interest in one or more subsidiary businesses.

Problem-Factoring Process

A methodical approach to solving problems by breaking them down into smaller, more manageable components.

Logical

Pertaining to or characterized by clear, sound reasoning and thought.