A Shortened Form of an Account in the Ledger Is

question 31

Multiple Choice

A shortened form of an account in the ledger is called a:

• A)trial balance.
• B)balance sheet.
• C)chart of accounts.
• D)T-account.

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Definitions:

Receivable Turnover

A financial ratio indicating how quickly a company collects on its accounts receivable, calculated as sales divided by the average accounts receivable.

Inventory Turnover

A ratio showing how many times a company's inventory is sold and replaced over a period of time, indicating the efficiency of inventory management.

Return On Assets

Return on assets (ROA) is a financial ratio that indicates the profitability of a company relative to its total assets, measuring how efficiently a company uses its assets to generate profit.

Total Debt

The sum of all financial obligations or liabilities held by a business or individual, including short-term and long-term debt.