Which of the Following Statements Is False Concerning Use of Currency

question 20

Multiple Choice

Which of the following statements is false concerning use of currency signs?

• A) Currency signs do not appear in journals or ledgers.
• B) Currency signs are generally only shown for the first item in a column and for the column total.
• C) Currency signs are not typically used in the trial balance.
• D) All of these answer choices are correct.

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Definitions:

National Debt

The cumulative sum of funds that a nation's government owes, often acquired by issuing bonds.

GDP

The GDP is the comprehensive market valuation of all end products and services made within a nation's borders during a certain period.

Federal Budget Deficits

The financial situation occurring when a government spends more money than it receives in income, typically measured over a fiscal year.

Federal Budget Deficit

The shortfall when the government's expenditures exceed its revenues in a fiscal year.