A Microinch (One Millionth of an Inch) Can Be Specified

question 2

Multiple Choice

A microinch (one millionth of an inch) can be specified as ____.

• A) .00001 inch
• B) .000001 inch
• C) .0000001 inch
• D) .00000001 inch

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Definitions:

Credits

Refers to the accounting entries that increase liabilities or decrease assets, representing the opposite effect of debits in double-entry bookkeeping.

Liability Accounts

Accounts on a balance sheet that represent obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits including money, goods, or services.

Stockholders' Equity Accounts

These accounts represent the owners' residual interest in the corporation's assets after deducting liabilities.

Credit Balances

Accounts within the accounting ledger that have a positive balance, indicating amounts owed to others.