Footings in T Accounts

question 55

Multiple Choice

Footings in T accounts

• A) appear to the left of the amount columns.
• B) are used for accounts with more than one debit or credit.
• C) are only used in asset accounts.
• D) are used for accounts with only one entry.

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Definitions:

Benchmark

A standard or point of reference against which things may be compared or assessed.

Polluter Pays Principle

An environmental policy principle which states that those who produce pollution should bear the costs of managing it to prevent damage to human health or the environment.

Sustainability Perspective

Viewing decisions and actions in terms of their long-term impact on environmental, social, and economic sustainability.

Inventory

The total quantity of goods that a company has in stock, including raw materials, work-in-progress, and finished goods, used to meet customer demand.