A Simple Tool That Is Widely Used in Accounting to Represent

question 168

Multiple Choice

A simple tool that is widely used in accounting to represent a ledger account and to understand how debits and credits affect an account balance is called a:

• A) Drawing account.
• B) Balance column sheet.
• C) Withdrawals account.
• D) Capital account.
• E) T-account.

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Definitions:

White Collar Jobs

Positions that typically involve clerical, administrative, or managerial work, usually in an office setting.

Unskilled Jobs

Positions that require minimal to no specific training or education, usually involving simple routine tasks.

Fair Trade

A social movement and market-based approach that aims to help producers in developing countries achieve better trading conditions and promote sustainability.

Free Trade

An economic policy allowing imports and exports between countries with little or no government tariffs, quotas, subsidies, or prohibitions to inhibit their exchange.