A General Ledger

question 40

Multiple Choice

A general ledger:

• A)Is a chronological listing of an organization's transactions
• B)Is a listing of an organization's transactions, organized by account
• C)Does not include every account in an organization's chart of accounts
• D)Is the same thing as a transaction listing

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Definitions:

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by everyone and one person's use does not reduce availability to others, examples include public parks and national defense.

Nonrival Consumption

A characteristic of certain goods where the consumption by one individual does not reduce availability to others, typical of public goods.

Nonexcludable

A characteristic of a good or service that does not allow the provider to prevent its use by individuals who have not paid for it.

Police Officers

Law enforcement personnel responsible for maintaining public order, preventing and detecting crime, and enforcing laws.