Money and Politics Are Similar in That They Are Both

question 87

Multiple Choice

Money and politics are similar in that they are both __________.

• A)Parts of an organization
• B)Viewed negatively
• C)Unnecessary
• D)Mediums of exchange

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Definitions:

Ledger Accounts

Detailed financial records maintained within the ledger, tracking transactions related to specific assets, liabilities, equity, income, and expenses.

Dividends Account

An account that records the dividends declared by a corporation to be distributed to its shareholders.

Net Income

The total profit of a company after all expenses, including taxes, have been deducted from revenues.

Closing Entries

These are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts, hence preparing the books for the next period.