Which of the Following Would Not Be Included in a Good

question 11

Multiple Choice

Which of the following would not be included in a good recording system?

• A)A well thought out chart of accounts
• B)A method of cross-referencing transactions
• C)The elimination of subsidiary records
• D)A well-developed system of ledger accounts

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Definitions:

Sales Agreement

A contract between a buyer and seller outlining the terms and conditions of a sale of goods or services.

Liability

The state of being legally responsible for something, often referring to financial obligations incurred through actions or by contract.

Lemon-Law

Legislation that offers remedies to consumers for products, especially vehicles, that fail to meet standards of quality and performance after multiple repair attempts.

Arbitration Panel

A group of one or more independent persons appointed to resolve a dispute in arbitration, rather than through court litigation.