Memberships Are the Primary Source of Funding for Public Attractions

question 8

True/False

Memberships are the primary source of funding for public attractions.

---

Definitions:

Ledger

A comprehensive record of a company's financial transactions, organized by account, used to compile financial statements.

Accounting Period

A specific period of time covered by accounting records and financial statements, typically a year or a quarter.

Dividends Account

An account in the general ledger that records payouts to shareholders from the company's earnings.

Permanent Account

An account that is not closed at the end of the accounting period and carries its ending balance into the next period, typically including assets, liabilities, and equity accounts.