The Usual Ordering of Accounts in the General Ledger Is

question 139

Multiple Choice

The usual ordering of accounts in the general ledger is

• A) assets liabilities owner's capital drawings revenues and expenses.
• B) assets liabilities drawings owner's capital expenses and revenues.
• C) liabilities assets owner's capital revenues expenses and drawings.
• D) owner's capital assets liabilities drawings expenses and revenues.

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Definitions:

Deadweight Loss

The loss of gains from trade to buyers and sellers that occurs when a tax is imposed. The deadweight loss imposes a burden on both buyers and sellers over and above the actual payment of the tax.

Keynesian View

An economic theory asserting that government intervention can stabilize the economy through monetary and fiscal policies.

Private Investment

Private Investment encompasses the expenditures on capital assets by private businesses or individuals, excluding government spending.

Business Optimism

A positive outlook or sentiment held by businesses about the future economic conditions, often leading to increased investment and growth plans.