Accounts Are Listed in the Ledger

question 77

Multiple Choice

Accounts are listed in the ledger:

• A)alphabetically.
• B)chronologically.
• C)in random order.
• D)in the same order as they appear on the financial statements.

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Definitions:

Negligent Acts

Conduct that falls below the standards of behavior established by law for the protection of others against unreasonable risk of harm.

Fiduciary Duty

A legal obligation of one party to act in the best interest of another when entrusted with certain tasks, typically related to financial management or care.

Corporation

A corporation is a legal entity that is separate and distinct from its owners, providing limited liability to its shareholders, and possessing the ability to own property, enter contracts, and sue or be sued.

Shareholders

Individuals or entities that own one or more shares of stock in a public or private corporation.