Match the Terms with the Definitions

question 43

Multiple Choice

Match the terms with the definitions.
-The column in the combination journal where the account number is entered after posting.

• A)accrual basis of accounting
• B)combination journal
• C)Description column
• D)General Credit column
• E)General Debit column
• F)modified cash basis
• G)Posting Reference column
• H)special columns

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Definitions:

Quantity Demanded

The total amount of a good or service that consumers are willing to buy at a given price over a specific time period.

Interest Rate

The percentage of a loan amount charged by a lender to a borrower for the use of assets, which can vary based on factors like inflation, the time value of money, and the risk involved.

Loanable Funds

The market where savers supply funds to borrowers, typically through financial intermediaries.

Quantity Supplied

The total amount of a specific good or service that producers are willing and able to sell at a given price, during a certain time period.