The Principal Ledger Containing All the Balance Sheet and Income

question 47

Multiple Choice

The principal ledger containing all the balance sheet and income statement accounts is the:

• A) general ledger.
• B) creditors' ledger.
• C) customers' ledger.
• D) subsidiary ledger.

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Definitions:

Groupthink

is a psychological phenomenon that occurs within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Groupthink

A psychological phenomenon occurring within a group of people, where the desire for harmony or conformity results in an irrational or dysfunctional decision-making outcome.

Discrediting Information

Information intended to undermine or reduce the credibility of a person, concept, or theory.

Feelings of Invulnerability

A psychological state where an individual perceives themselves as impervious to harm or danger, often leading to riskier behaviors.