A Record in a Journal Is Described as A(n)

question 50

Multiple Choice

A record in a journal is described as a(n) :

• A) summary
• B) posting
• C) entry
• D) transaction.

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Definitions:

Gain From Trade

The benefit that arises from efficient allocation of resources, allowing parties involved to obtain goods or services they desire at a lower opportunity cost.

Condition

The current state or quality of an item, product, or entity, often used to describe something's appearance, functionality, or working order.

Specialize In Producing

The practice in which individuals, companies, or countries focus on the production of a limited scope of products or services to gain greater degrees of productive efficiency within an overall system.

Trade

The exchange of goods, services, or both between two or more parties, wherein each party benefits from the transaction.