What Is Contained in a Credit Report

question 59

Multiple Choice

What is contained in a credit report?

• A)Bankruptcy records
• B)Unpaid child support
• C)Addresses
• D)All of the options are correct.

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Definitions:

Equipment

Tangible property used in the operation of a business that is not intended for sale in the usual course of business.

Post-Closing Trial Balance

A list of all accounts and their balances after the closing entries have been made, used to verify the equality of debits and credits and prepare for the next accounting period.

Supplies Expense

An expense account that records the cost of consumable items used during an accounting period, such as office supplies.

Purchases

Transactions where goods or services are exchanged for money, typically recorded in the accounting period in which they occur.