In the Figure Above, Item ____ Refers to a File

question 48

Multiple Choice

In the figure above, item ____ refers to a file.

• A)1
• B)2
• C)3
• D)none of the above

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Definitions:

General Ledger

The General Ledger is the primary accounting record of a company that contains all the accounts needed to prepare financial statements, tracking all transactions.

Revenue Account

An account in the general ledger that records the income earned by a company, from sales or services, before any deductions.

Net Loss

Occurs when a company's total expenses exceed its total revenues during a specific period, indicating negative profitability.

Revenue Accounts

Accounts that track the income earned from the sale of products or services.