The Ledger

question 146

Multiple Choice

The ledger:

• A)is a grouping of all of the balance sheet accounts only.
• B)is a grouping of all the income statement accounts only.
• C)contains all the accounts used by a business.
• D)contains only the permanent accounts used by a business.

Know the historical context of significant fiscal events and measures, including budget deficits and surpluses.

Comprehend the importance of the multiplier effect in fiscal policy.

Distinguish between automatic stabilizers and discretionary fiscal policies.

Recognize the effects of fiscal policy on recession and inflation.

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