__________ Are Items That Become Part of the Final Business

question 257

Multiple Choice

__________ are items that become part of the final business product.

• A)Components
• B)Complementary parts
• C)Support products
• D)Production elements
• E)Essential materials

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Definitions:

Journalizing

The process of recording transactions in a journal or ledger in the field of accounting.

Posting Process

In accounting, this is the step where transactions are transferred from the journal to the respective accounts in the ledger, updating the account balances.

Trial Balance

A worksheet in bookkeeping that assembles the balances from each ledger into corresponding totals in debit and credit categories.

Journal Entry

A record in accounting that documents a business transaction in the general ledger, involving at least two accounts.