A Company's List of Accounts and the Identification Numbers Assigned

question 103

Multiple Choice

A company's list of accounts and the identification numbers assigned to each account is called a:

• A)Source document.
• B)Journal.
• C)Trial balance.
• D)Chart of accounts.
• E)General Journal.

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Definitions:

Book Value

The value of a fixed asset, as recorded on a balance sheet, which represents its historical cost minus accumulated depreciation.

Debentures

A type of long-term debt instrument used by large companies to borrow money, at a fixed rate of interest, and not secured by physical assets or collateral.

Accrued Interest

Interest that has been incurred but not yet paid, reflecting the cost of borrowing over a period of time.

Face Value

The nominal value printed on a financial instrument like a bond or stock certificate, representing its legal value.