Savings Are Generated Whenever

question 60

Multiple Choice

Savings are generated whenever

• A) prices are rising.
• B) current spending exceeds current income.
• C) current income exceeds current spending.
• D) real GDP exceeds nominal GDP.

---

Definitions:

Trial Balance

A bookkeeping worksheet where the balances of all ledgers are compiled into debit and credit columns to ensure accuracy in the accounts.

Additional Accounts

Accounts that are created to track or manage specific financial transactions not covered by the standard set of accounts.

Worksheet

An accounting tool used for planning and preparing financial statements, often in the form of a spreadsheet.

Chart of Account Order

The systematic arrangement of accounts within a chart, typically organized by type and number.