Though High-Profile Business Bankruptcies Such as Sports Authority and Radio

question 1

True/False

Though high-profile business bankruptcies such as Sports Authority and Radio Shack dominate the news, over 90 percent of bankruptcy filings each year are by individuals.

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Definitions:

Accounts Receivable File

A record or database of all amounts owed to a company by its customers for goods or services delivered.

Tickler File

An organizational system used to remind individuals of upcoming tasks or deadlines, often consisting of a file with dated sections.

Voucher Register

A record keeping system that logs all vouchers issued by a business, detailing the authorization of payments.

Purchases Journal

A ledger in accounting used to record all purchases of goods and services on credit.