What Is a Trade Association

question 15

Multiple Choice

What is a trade association?

• A)an organization that represents the federal government during the negotiation of international trade agreements
• B)an organization that coordinates exchanges of information and resources among multiple interest groups
• C)a type of labor union.
• D)an organization that represents businesses within a specific industry

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Definitions:

Accounts Payable

Liabilities owed by a business to its suppliers or creditors for goods and services received but not yet paid for.

Revenue Journal

A financial journal used to record specific types of revenue transactions, detailing the source and amount of income.

Customer Account

is a financial account that records the transactions, balance, and other financial interactions between a business and its customer.

Revenue Journal

A specialized accounting journal where a business records its revenue transactions.