A Credit Is Used to Record

question 82

Multiple Choice

A credit is used to record:

• A)An increase in an expense account.
• B)An increase in an asset account.
• C)An increase in an unearned revenue account.
• D)A decrease in a revenue account.
• E)A decrease to retained earnings.

Understand the jurisdiction and the role of the National Labor Relations Board.

Know the requirements and protections offered by the Employee Retirement Income Security Act (ERISA).

Recognize the principles of employer monitoring of employee communications and privacy rights.

Understand the legal requirements related to workplace safety and unemployment compensation.

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Definitions:

Currency

A system of money in general use in a particular country for the exchange of goods and services.

Federal Reserve

The Federal Reserve, often referred to as "the Fed," is the central banking system of the United States, responsible for setting monetary policy, regulating banks, maintaining financial stability, and providing banking services to governmental agencies.

Reserve Ratio

The reserve ratio is the fraction of deposits that regulators require a bank to hold in reserve and not lend out. This is a tool used by central banks to control the money supply.

Goldsmith

A craftsman who makes jewelry, utensils, and various art pieces out of gold, and historically also dealt in gold, silver, and banking activities.