For a Sole Proprietorship, the Usual Ordering of Accounts in the General

question 130

Multiple Choice

For a sole proprietorship, 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) owners' capital, assets, liabilities, drawings, expenses, and revenues.

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Definitions:

Strategic Intent

The long-term vision that defines a company's aspirations and determinates its strategy to achieve competitive advantage.

Strategy

A plan of action designed to achieve a long-term or overall aim.

Consistent

Marked by harmony, regularity, or steady continuity, free from variation or contradiction.

Oligopoly Environment

A market structure characterized by a small number of firms that dominate the market, leading to limited competition.