In 2004,Google

question 59

Multiple Choice

In 2004,Google

• A)developed a set of open standards for mobile phones.
• B)offered shares of stock to the public.
• C)launched its first search engine.
• D)renamed itself from BackRub.

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Definitions:

General Ledger

The primary accounting record of a company that uses double-entry bookkeeping, summarizing all transactions into debits and credits.

Allowance Account

A contra asset account that reduces the gross amount of receivables to reflect a more accurate value of expected collections.

Liability Account

An accounting record tracking obligations or debts that a company owes to others.