A Summary of the Ledger That Lists the Accounts and Their

question 81

Multiple Choice

A summary of the ledger that lists the accounts and their balances, in which the total debit balances should equal the total credit balances, is called a(n) :

• A)Account balance.
• B)Chart of accounts.
• C)Trial balance.
• D)Ledger.
• E)General Journal.

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Definitions:

Preassembled

Refers to components or items that are assembled at the manufacturing point before being shipped to the customer or end-use location.

Product

Any good or service that can be offered to a market to satisfy a want or need, including physical items, services, and digital goods.

Waiver Of Warranty Rights

An agreement to relinquish one's legal rights to hold a seller accountable for defects in goods or property.

Statute Of Limitations

is a law prescribing the time limit within which legal action must be commenced for alleged breaches of law or rights.