The Ledger Is

question 119

Multiple Choice

The ledger is:

• A) a group of accounts that records results from business transactions.
• B) a tool used to ensure that all accounts have normal balances.
• C) a chronological record of the day's transactions.
• D) a tool used to ensure that debits equal credits.

---

Definitions:

Ethical Egoism

The belief that actions are morally right if they benefit the individual making the decision.

Utilitarianism

A moral theory that suggests that the best action is the one that maximizes utility, usually defined as that which produces the greatest well-being of the greatest number of people.

Altruism

The selfless concern for the well-being of others, often manifesting in actions that prioritize others' interests above one's own.

Authority

The authority or capability to issue commands, make choices, and ensure compliance.