The _____ Keeps Track of Company Financial Transactions by Documenting

question 98

Multiple Choice

The _____ keeps track of company financial transactions by documenting money coming in and money going out and balances the accounts at the end of the period.

• A) auditing function
• B) compliance function
• C) accounting function
• D) financial transactions function

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Definitions:

Revenues

Revenues are the total amount of money earned by a company for selling its goods, services, or both, within a certain accounting period.

Expenses

Costs incurred by a business or individual in the process of earning revenue.

Owner Financing

A method of financing in which the seller of a property provides a loan to the buyer directly, often with flexible terms.

Creditors Or Lenders

Individuals or institutions that lend money or extend credit to others, with the expectation of being repaid with interest.