Indicate Whether Each of the Following Statements Is True or False

question 152

True/False

Indicate whether each of the following statements is true or false
a)________ The general ledger is often called the book of original entry.b)________ Transactions are first recorded in the journal and then transferred to the ledger.c)________ The process of making entries into a journal is called posting.d)________ The general ledger is an example of a source document.e)________ The list of a business's ledger accounts, and their account numbers is called a chart of accounts.

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Definitions:

Investment

The allocation of resources, usually money, in expectation of generating an income or profit.

Target Costing

A pricing method where the selling price is set first, and then the target cost for producing the product is determined by subtracting a desired profit margin.

Desired Return

The specific profit that an investor aims to achieve from an investment.

Investment

The allocation of resources, such as time, money, or effort, in something with the expectation of receiving a future return or profit.