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:

Consumer

A person or collective that buys products or services for their own consumption and not for making or selling them.

Income

The revenue brought in, consistently over time, from professional endeavors or investments.

Budget Constraint

The limits imposed on household choices by income, prices, and taxes, defining the combination of goods and services they can afford.

Income

Proceeds obtained, often periodically, from labor or investment returns.