The General Ledger

question 16

Multiple Choice

The general ledger

• A)is used to record infrequent or non-routine transactions.
• B)simplifies the process of recording large numbers of repetitive transactions.
• C)records all detailed data for any general ledger account that has individual sub-accounts.
• D)contains summary-level data for every account of the organization.

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Definitions:

Competitive Advantage

The unique attributes or capabilities that allow an organization to outperform its competitors.

HR Practices

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European Union (EU)

A political and economic union of 27 European countries that are located primarily in Europe.