A Report That Lists a Business's Accounts and Their Balances,in

question 110

Multiple Choice

A report that lists a business's accounts and their balances,in which the total debit balances should equal the total credit balances,is called a(n) :

• A)Account balance.
• B)Trial balance.
• C)Ledger.
• D)Chart of accounts.
• E)General Journal.

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Definitions:

Private Enterprise System

A private enterprise system is an economic system where private individuals or businesses own and operate the means of production and distribution of goods and services.

Fair Competition

refers to a marketplace where businesses operate under rules that prevent monopolies and ensure equal opportunities for all participants.

Factor Payment

Financial compensation given to the factors of production—namely labor, capital, and resources.

Rent

A payment made by a tenant to a landlord for the use of a property or space.