The Balance Column in a Ledger Account Is

question 127

Multiple Choice

The balance column in a ledger account is:

• A) A simple form of account that is widely used in accounting to illustrate the debits and credits required in recording a transaction.
• B) Another name for the withdrawals account.
• C) An account entered on the balance sheet.
• D) An account used to record the transfers of assets from a business to its owner.
• E) A column for showing the balance of the account after each entry is posted.

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Definitions:

Capital Flight

The massive outflow of capital from a country, often due to economic instability or the expectation of devaluation of its currency.

Financial Capital

Financial Capital refers to the funds provided by lenders (and investors) to businesses to purchase real capital equipment for producing goods/services.

Infrastructure

The fundamental physical and organizational structures and facilities (e.g., buildings, roads, power supplies) needed for the operation of a society or enterprise.

Brain Drain

The tendency for talented people from developing countries to become educated in a developed country and remain there after graduation.