To Find an Explanation for a Transaction, Look in The

question 95

Multiple Choice

To find an explanation for a transaction, look in the:

• A) income statement.
• B) balance sheet.
• C) journal.
• D) trial balance.

---

Definitions:

1975 Mail-Order Rule

A regulation that requires companies to ship goods ordered by mail, phone, or online, within a promised timeframe or notify customers of delays.

Mail or Telephone Order Merchandise Rule

A Federal Trade Commission rule ensuring that companies ship orders made by mail, phone, or online in a timely manner, or provide timely notice of delays and offer the option of a refund.

Complete Package

Typically describes a product or offer that includes all necessary components or features as a single, comprehensive unit.

Federal Law

Legislation enacted by the national government of a country that applies to all of its citizens and entities.