A Record of All Accounts Used by a Business Is

question 119

Multiple Choice

A record of all accounts used by a business is called a

• A)Journal.
• B)Trial balance.
• C)Book of original entry.
• D)General Journal.
• E)Ledger.

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Definitions:

Restricted Fund

Funds that are earmarked for a specific purpose by the donor or governing body and cannot be used for general expenses.

Capital Fund

A reserve of capital that can be used for investment, growth, or to cover future liabilities or expenditures.

General Fund

The primary operating fund of a government, covering most common services.

Amortization

The gradual reduction of the cost of an intangible asset over its useful life or the process of spreading loan payments across multiple periods.