Match the Terms with the Definitions

question 5

Multiple Choice

Match the terms with the definitions.
-The column in the combination journal used to debit accounts that are used infrequently.

• 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:

Customer

The recipient of a good, service, product, or idea, obtained from a seller, vendor, or supplier for a monetary or other valuable consideration.

Sale Price

The final amount at which a product or service is sold to consumers, often after discounts or adjustments.

Total Surplus

The sum of consumer surplus and producer surplus in a market, representing the total benefits to society from the production and consumption of goods or services.

Sale Price

The final price at which an item or service is sold, often after discounts or negotiations.