From the Combination Journal,the Total of the Cash Debit Column

question 59

True/False

From the combination journal,the total of the Cash Debit column is posted as one amount to the credit side of the Cash account and the total of the Cash Credit column is posted as one amount to the debit side of the Cash account.

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Definitions:

Market Wage Rate

The prevailing rate of pay for a specific job or occupation in a labor market, influenced by supply and demand for labor.

Diminishing Returns

A principle stating that as investment in a single area of production increases, the rate of return from that investment, after a certain point, begins to decrease.

Worker

A person engaged in work, especially in manual or industrial labor, often for wages.

Profit Maximizing

Profit maximizing is the process by which a firm determines the price and output level that returns the greatest profit.