An Account in the Chart of Accounts Has the Number

question 13

Multiple Choice

An account in the chart of accounts has the number 7111.Which of the following does the 7 likely represent?

• A)revenues
• B)sales region
• C)merchandise sales
• D)golf merchandise sales

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Definitions:

Electrical Loads

Devices or components in an electrical circuit that consume electric power, such as lights, appliances, and machines.

Average Accounting Return

A measure of the profitability of an investment, calculated as the average annual net income divided by the average investment.

Time Value

The concept in finance that money available at the present time is worth more than the same amount in the future due to its potential earning capacity.

Calculation

The process of determining a numerical result based on mathematical operations or algorithms.