We Remember the Beginning and the End of a List

question 126

Multiple Choice

We remember the beginning and the end of a list better than the middle because of

• A)dependent memory.
• B)sensory register effects.
• C)Serial-position effects.
• D)retention interval effects.

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Definitions:

Book of Original Entry

The Book of Original Entry refers to the initial record where financial transactions are documented chronologically.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby resetting the temporary accounts for the next period.

Account Balances

The amount of money in an account at a specific point in time, reflecting all transactions.

Credits

An accounting entry that either decreases assets or increases liabilities and equity on the company's balance sheet.