A Record of All the Changes in a Particular Asset

question 121

Multiple Choice

A record of all the changes in a particular asset during a period of time is found in a(n) :

• A)transaction.
• B)trial balance.
• C)prior period's balance sheet.
• D)account.

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Definitions:

Investment Banking

A segment of banking that specializes in providing various financial-related and advisory services to individuals, corporations, and governments in relation to underwriting, capital raising, merger, and acquisition, and other transactions.

Universal Banks

Financial institutions that offer a wide variety of banking services, including both commercial and investment services.

TARP Funds

Stands for Troubled Asset Relief Program, a program of the U.S. government to purchase toxic assets and equity from financial institutions to strengthen its financial sector during the 2008 financial crisis.

U.S. Treasury

The department of the federal government responsible for managing government revenue, issuing currency, administering public debt, and overseeing fiscal policy.