When Using a Three-Column Account Format,the Column on the Far

question 161

Multiple Choice

When using a three-column account format,the column on the far right is used to show:

• A) the debit and credit amounts posted from journal entries
• B) the names of the accounts being debited and credited
• C) the transactions' date and journal reference
• D) the account's balance

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Definitions:

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The act of acknowledging responsibility for a wrongdoing, often in a legal context, to demonstrate remorse or acceptance of consequences.

Postcrisis Review

The evaluation process conducted after a crisis to assess an organization's response, learn lessons, and improve future crisis management plans.

Crisis Plan

A predefined strategy or set of guidelines devised to help an organization respond effectively to an emergency or sudden adverse event.

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