According to Information in This Chapter,what Determines the Quality of Human

question 60

Multiple Choice

According to information in this Chapter,what determines the quality of human life and what we produce,make and build?

• A)The assets we amass
• B)Excellence in thought
• C)Happiness
• D)Our diligence

---

Definitions:

Accounts Receivable Subsidiary Ledger

An Accounts Receivable Subsidiary Ledger is a detailed ledger that contains individual accounts for all debtors, tracking their sales on credit and payments.

General Ledger

The general ledger is the primary accounting record of a company that uses double-entry bookkeeping, summarizing all transactions into accounts for financial statements.

Allowance for Doubtful Accounts

a contra-asset account that estimates the portion of accounts receivable that may not be collectible.

Trade Receivables

Trade receivables are amounts owed to a business by its customers resulting from the sale of goods or services on credit.