________ Is the Unit of Value in a Social Community

question 85

Multiple Choice

________ is the unit of value in a social community.

• A) A dollar
• B) A friend
• C) Content
• D) Reputation
• E) Identity

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Definitions:

GAAP

Generally Accepted Accounting Principles, the standard framework of guidelines for financial accounting in the U.S.

Income Statement Accounts

The accounts that report the revenues, expenses, gains, and losses of a company, which are used to calculate the net income on the income statement.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check for accuracy.

List of Accounts

A comprehensive list that includes all of a company's accounts and account numbers used within its accounting system.