The General Ledger of a Business

question 102

Multiple Choice

The general ledger of a business:

• A)Is a collection of all accounts used in a company's information system.
• B)Must be kept in a computer file.
• C)Is also called the book of original entry.
• D)Is not affected by a company's size and diversity.
• E)Is one of the four financial statements.

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Definitions:

Yardstick Approach

A method of decision-making or evaluation that involves comparing alternatives against a predefined standard or "yardstick."

Analytical Report

A type of document that presents data and analysis to support business decisions, often including recommendations.

Yardstick Approach

A method of performance evaluation that compares a company's results against a standard or benchmark.

Criteria Evaluation

The process of assessing something based on a set of standards or benchmarks to make a judgment or decision.