A Three Column Form of Account Is So Named Because

question 194

Multiple Choice

A three column form of account is so named because it has columns for

• A) debit credit and account name.
• B) debit credit and reference.
• C) debit credit and balance.
• D) debit credit and date.

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Definitions:

Financial Reports

Documents that provide an overview of the financial condition of a company, including balance sheets, income statements, and cash flow statements.

Governmental Units

Entities responsible for the governance and administration of a particular area or community at local, regional, or national levels.

Modified Equity Method

An accounting technique used for investments, adjusting the value of the investment for undistributed profits or losses of the investee, differing slightly from the pure equity method.

Government Business Enterprises

Government-owned entities that operate in the marketplace to provide goods and services, often with a commercial objective, distinct from general government sectors.