A Special Multi-Column Record That Supplements the Regular Accounting Records

question 115

Multiple Choice

A special multi-column record that supplements the regular accounting records and from which no posting is done is called a

• A) bank reconciliation form.
• B) petty cash payment record.
• C) journal.
• D) ledger.

---

Definitions:

Division Profit

This refers to the net income generated by a specific division or segment of a larger company.

Company-wide Profit

represents the total earnings of a company after all expenses and taxes have been deducted from revenue, reflecting the overall financial performance across all departments and activities.

Transfer Price

The cost at which products, services, or intellectual property are exchanged between departments inside the same corporation.

Fixed Costs

Expenses that remain constant regardless of the amount of output or sales, including lease payments, employee wages, and insurance costs.