A(n)__________ Access File Is Also Known as a Direct Access

question 22

Multiple Choice

A(n) __________ access file is also known as a direct access file.

• A) sequential
• B) random
• C) numbered
• D) text

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Definitions:

Balance Sheet

A financial statement that displays a company’s assets, liabilities, and shareholders' equity at a specific point in time.

Double-entry Bookkeeping

A bookkeeping method in which each transaction is entered twice, with one entry being recorded as a debit in one account and a corresponding credit in another.

Income Linkage

The connection or relationship between different sources of income or its impact on economic status.

Double-entry Bookkeeping

An accounting system that records each transaction in two accounts, debits in one and credits in another, to maintain the balance of the accounting equation.