When the Amount for a Debit Entry in a Journal

question 22

Multiple Choice

When the amount for a debit entry in a journal is transferred to a specific account in the general ledger, it must be recorded

• A) as a debit to that account in the general ledger.
• B) as a credit to that account in the general ledger.
• C) in sum only, without any regard for debit or credit, since the general ledger accounts do not have spaces for debit and credit entries.
• D) cannot be determined without further information.

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Definitions:

Macroeconomics

A branch of economics dealing with the structure, performance, behavior, and decision-making of an economy as a whole, rather than individual markets.

Marginal Products

The additional output that is produced as a result of adding one more unit of a particular input while holding other inputs constant.

Low-productivity Workers

Refers to employees who have below-average output per unit of input, often due to lack of skills, motivation, or resources.

Adverse Selection

A situation where sellers have information that buyers do not have, or vice versa, often leading to an inefficient market outcome.