A Complete Record of Each Transaction in One Place Is

question 89

Multiple Choice

A complete record of each transaction in one place is called a(n) :

• A)Account balance.
• B)Ledger.
• C)Journal.
• D)Trial balance.
• E)Cash account.

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Definitions:

Excise Tax

A tax levied on specific goods, services, or transactions, often to discourage consumption or generate revenue for public purposes.

Cigarette Manufacturers

Companies engaged in the production and sale of cigarettes.

Burden

Often used in the context of taxation or regulations, indicating the weight of responsibility or negative impacts placed on individuals or organizations.

Deadweight Loss

The loss of economic efficiency that occurs when the equilibrium for a good or service is not achieved, often due to market failure or government intervention.