Lightning Can Strike

question 97

Multiple Choice

Lightning can strike

• A)below a thunderstorm cloud.
• B)out of the anvil of a thunderstorm cloud.
• C)from the side of the cloud.
• D)all of these

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Definitions:

Closing Journal Entries

Entries made at the end of an accounting period to transfer balances from temporary to permanent accounts.

Revenue Journal

An accounting ledger that records all transactions involving the income earned by the business, specifically from its operations and activities.

Provided on Account

A transaction that occurs when goods or services are delivered with the understanding that payment will be made at a later date.

Creditor Balances

The amounts owed by a business to its creditors, representing liabilities for goods, services, or loans provided to the business.