The Ledger Is

question 38

Multiple Choice

The ledger is:

• A)a group of accounts that records data from business transactions.
• B)a tool used to insure that all accounts have normal balances.
• C)a chronological record of the day's transactions.
• D)a tool used to ensure that debits equal credits.

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Definitions:

Executive Power

The authority granted to government executives, such as presidents or governors, to enforce laws and manage the administration of government.

U.S. Constitution

The supreme law of the United States that outlines the national frame of government and the fundamental rights of its citizens.

Judicial Decisions

Legal determinations made by a court regarding a matter in dispute, which serve as an authoritative rule or precedent in future, similar cases.

Interstate Commerce

Commercial transactions or the movement of goods and services across state lines, which can be regulated by the federal government.