A(n) _______________ Is Also Called a Volt-Ohm Meter (VOM) or Digital

question 85

Short Answer

A(n) _______________ is also called a volt-ohm meter (VOM) or digital multimeter (DMM).

---

Definitions:

Transaction

An agreement or exchange between two parties that has a measurable financial effect on the accounts of a business.

Accounts

Financial records of transactions that track the income, expenses, assets, liabilities, and equity of an entity.

Double-Entry System

An accounting method that records each transaction in at least two accounts, ensuring the accounting equation (Assets = Liabilities + Equity) remains balanced.

Debit Accounts

Accounts that are increased by debits and decreased by credits, commonly including assets and expenses.