The Usual Ordering of Accounts in the General Ledger Is

question 76

Multiple Choice

The usual ordering of accounts in the general ledger is

• A) assets, liabilities, share capital-ordinary, retained earnings, dividends, revenues, and expenses.
• B) assets, liabilities, dividends, share capital ? ordinary, retained earnings, expenses, and revenues.
• C) liabilities, assets, share capital ? ordinary, retained earnings, revenues, expenses, and dividends.
• D) Share capital ? ordinary, retained earnings, assets, liabilities, dividends, expenses, and revenues.

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Definitions:

Operating Expenses

The costs associated with a company's main operational activities, excluding the cost of goods sold, interest, and taxes.

Income from Operations

The earnings generated from a company's core business operations, excluding any income from investments or other non-operational sources.

Net Sales

Revenue from sales after deducting returns, allowances for damaged goods, and discounts.