A Grouping of All the T-Accounts with Their Balances Is

question 90

Multiple Choice

A grouping of all the T-accounts with their balances is called the:

• A)accounting equation.
• B)trial balance.
• C)journal.
• D)ledger.

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Definitions:

Incremental Cash Flows

The additional cash flow an entity receives from undertaking a new project or investment.

Interest Expense

The cost incurred by an entity for borrowed funds over a period of time.

Externality

A consequence of an economic activity experienced by unrelated third parties; it can be positive or negative.

Sunk Cost

Expenses that have already been incurred and cannot be recovered, and should not influence future business decisions.