The Usual Order of Accounts in the General Ledger Is

question 135

Multiple Choice

The usual order of accounts in the general ledger is

• A) assets, liabilities, common stock, retained earnings, dividends, revenues, and expenses.
• B) assets, liabilities, dividends, common stock, retained earnings, expenses, and revenues.
• C) liabilities, assets, common stock, retained earnings, revenues, expenses, and dividends.
• D) common stock, retained earnings, assets, liabilities, dividends, expenses, and revenues.

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Definitions:

International Trade

The trade of products and services beyond international frontiers or territories.

Exporting

The process of selling and shipping goods or services from one country to another country.

Tariff

A tax imposed by a government on goods and services imported from other countries.

Imports

Imports are goods or services brought into one country from another for sale, usually regulated by the government with tariffs, quotas, or trade agreements.