An Accounting Record That Includes a List of Accounts and Their

question 208

Multiple Choice

An accounting record that includes a list of accounts and their balances at a given time is called a

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

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Definitions:

Incremental Sales

The additional sales generated by a particular business activity or decision.

Operating Expenses

Expenses that are incurred during the normal operation of a business, excluding the cost of goods sold.

Capital Budgeting

The approach of orchestrating and administering a business's enduring investments towards major initiatives or assets.

Straight-Line Depreciation

A scheme for apportioning the cost of a concrete asset over its lifespan in steady yearly payments.