The Ledger Is

question 99

Multiple Choice

The ledger is

• A) a group of accounts that records data from business transactions.
• B) a tool used to make sure that all accounts have normal balances.
• C) a chronological record of the day's transactions.
• D) a tool used to ensure that debits equal credits.

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Definitions:

Developing Countries

Nations with a lower level of industrialization, lower living standards, and lower Human Development Index (HDI) scores compared to developed countries.

Banking System

The network of institutions that provide financial services, including the holding of deposits, providing loans, and facilitating payments.

Aggregate Domestic Output

The total value of all goods and services produced within a country's borders in a specific time period.

Capital Goods

Long-term assets such as machinery, buildings, and equipment used by businesses to produce goods and services.