Companies Are Allowed to Charge Different Prices to Different People

question 15

True/False

Companies are allowed to charge different prices to different people for the same goods or services.

---

Definitions:

Other Accounts Column

The Other Accounts Column appears in accounting journals or ledgers, used to record transactions that do not fit into the standard categories or columns provided, ensuring flexibility in bookkeeping.

Owner's Drawings

Money or other assets that the owner withdraws from the business for personal use.

Cash Receipts Journal

A financial journal that records all cash inflows or money received by the business.

Other Accounts Column

A section in accounting ledger books or financial statements designed to capture data that does not fit into the standard accounts categories.