After Posting Is Completed in the Accounts Receivable Ledger and the General

question 61

Multiple Choice

After posting is completed in the accounts receivable ledger and the general ledger, the total of the accounts receivable ledger balances should equal the

• A) accounts payable account balance.
• B) accounts receivable account balance.
• C) cash account balance.
• D) net income amount.

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Definitions:

Hiring Freeze

A temporary halt on hiring new employees, typically implemented by an organization to reduce costs.

Contracting Work

The practice of hiring external contractors to perform specific tasks or projects rather than employing full-time staff to do the same work.

Contract Workers

Individuals employed on a temporary basis to complete specific tasks or for a set period, often without the benefits provided to permanent staff.

Employment Legislation

Laws and regulations that govern the relationship between employers and employees, covering aspects such as wages, working hours, health and safety, and discrimination.