An Accounting Report That Lists All Assets, Liabilities, and Shareholders

question 32

Multiple Choice

An accounting report that lists all assets, liabilities, and shareholders' equity accounts and their balances at a specific date is called a

• A)trial balance.
• B)general journal.
• C)general ledger.
• D)chart of accounts.

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Definitions:

Planning

The process of making plans for something, including setting goals, strategies, and actions.

Controlling

is one of the four major functions of management, focusing on monitoring performance and making adjustments to achieve goals.

Upside-Down Pyramid

A view of organizations that shows customers at the top being served by workers who are supported by managers.

Customers

Individuals or organizations that purchase goods or services from a business or seller.