Acting in Anticipation of Future Problems Is Called

question 28

Multiple Choice

Acting in anticipation of future problems is called:

• A)being aware
• B)being proactive
• C)circumventing
• D)incurring

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Definitions:

Subsidiary Ledger

A detailed ledger that contains specific accounts grouped under a primary account, facilitating more personalized and detailed tracking of financial transactions.

Cash Receipts

Money or cash equivalents received during a period of time including revenues from normal business operations and other activities.

Purchases On Account

The acquisition of goods or services with an agreement to pay for them at a later date, typically through the use of credit.

Accounts Receivable Subsidiary Ledger

A ledger containing detailed information on transactions related to individual customers to whom sales on credit have been made.