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

question 41

Multiple Choice

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

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

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Definitions:

Incremental Cost Approach

An analysis method that evaluates the additional costs of making decisions, comparing the costs that change with the decision versus those that do not change.

Purchase Cost

The amount paid to buy goods, materials, or assets.

Major Repairs

These are significant expenditures to restore or improve an asset, extending its useful life.

Annual Cash Operating Costs

The total amount of money a company spends on its day-to-day operations within a fiscal year.