A(n) _____ Budget Shows Costs of Major Assets Such as a New

question 71

Short Answer

A(n) _____ budget shows costs of major assets such as a new plant, machinery, or land.

---

Definitions:

Shareholders' Equity

The residual interest in the assets of a corporation after deducting its liabilities, representing the net assets held by shareholders.

General Journal

A general journal is an accounting ledger that is used to record all transactions of a business in chronological order, prior to their transfer into specific accounts in the general ledger.

General Ledger

A comprehensive accounting record of a company’s financial transactions over its life, encompassing all accounts.