An Individual Accounting Record of Increases and Decreases in a Specific

question 19

Multiple Choice

An individual accounting record of increases and decreases in a specific asset, liability, or shareholders' equity item is called a(n)

• A)single-entry accounting system.
• B)accounting transaction.
• C)account.
• D)normal balance.

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Definitions:

Federal Courts

Specialized courts in the United States with the power to try cases related to federal law and constitutional issues.

Taxing Power

The authority granted to governmental bodies to impose taxes on individuals, corporations, and other entities within their jurisdiction.

Regulatory Device

Tools or mechanisms used by governmental bodies to control or influence the behavior of individuals, businesses, or other entities in order to enforce laws and regulations.

Federal Assistance

Financial or other aid provided by the federal government to individuals, organizations, or states, for purposes such as disaster relief, education, or health care.