Once an Amount Has Been Posted to the General Ledger

question 40

Multiple Choice

Once an amount has been posted to the general ledger account from the combination journal,what is entered in the "Post.Ref." column of the combination journal?

• A) the abbreviation "CJ"
• B) your initials
• C) a check mark
• D) the account number

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Definitions:

Cartels

Coalitions of independent businesses formed to regulate production, pricing, and marketing of goods to maximize collective profits.

Price Leadership

A market situation where one or more dominant firms set the price of goods or services, and other firms in the industry follow suit.

Kinked-Demand Curve Model

An economic theory suggesting that prices become rigid or sticky due to competing firms' responses to price changes.

Collusion

A secret agreement between firms in a market to fix prices, limit production, or divide markets, in order to reduce competition and increase profits.