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:

Insurable Interest

A requirement in insurance policies that the policyholder must stand to suffer a financial loss or detriment if the insured event occurs, legitimizing the policy's existence.

Simple Delivery Contract

A contract that involves the transfer of goods from the seller to the buyer through direct delivery.

Identified to the Contract

Refers to goods that have been designated as the subject matter of a sales or service contract.

Insurable Interest

A stake in the preservation of a person or property that is sufficiently substantial to justify purchasing insurance.