A File or Book Which Contains a Record for All

question 54

Multiple Choice

A file or book which contains a record for all accounts used by a company, including the account balance, is called a

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

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Definitions:

Accounting Equation

The foundational equation in accounting, Assets = Liabilities + Equity, representing the relationship between a company's resources and its sources of financing.

Service To Customer

Activities and benefits provided by a business to its customers, aimed at satisfying their needs and expectations.

Accounting Equation

The foundational principle of accounting expressing that assets equal the sum of liabilities and shareholder's equity.

Purchased Equipment

Fixed assets acquired by a company for use in the production or supply of goods and services, not for resale.