When Analyzing Transactions and Exploring Their Financial Effects,journals Are Used

question 82

Multiple Choice

When analyzing transactions and exploring their financial effects,journals are used to:

• A)summarize the effects on each account; organized by date.
• B)summarize the effects on each account; organized by account.
• C)record the daily effects of the transactions; organized by date.
• D)record the daily effects of the transactions; organized by account.

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Definitions:

Human Capital

The combined abilities, expertise, and non-physical assets belonging to people that can generate economic benefits for themselves, their place of work, or their local area.

Natural Resources

Environmental assets such as minerals, woodlands, bodies of water, and cultivable land, available in nature and exploitable for economic growth.

Financial Institutions

Organizations that provide financial services, such as banks, insurance companies, and stock exchanges.

Capital Infrastructure

Fundamental facilities and systems serving a country, city, or area, including transportation, communications, sewage, water, and electric systems, that are necessary for economic activity.