The Ledger Is

question 99

Multiple Choice

The ledger is

• A) a group of accounts that records data from business transactions.
• B) a tool used to make sure that all accounts have normal balances.
• C) a chronological record of the day's transactions.
• D) a tool used to ensure that debits equal credits.

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Definitions:

Quarterly Dividends

Dividends paid by a corporation to its shareholders at the end of each quarter of the fiscal year.

Compounded Quarterly

Interest calculation method where interest is added to the principal four times a year, affecting the total interest earned or paid.

Redeemed

In financial terms, to exchange a financial instrument like a bond or coupon for its value in cash or goods; also refers to utilizing a reward or benefit.

Compounded Semi-Annually

Refers to the process of applying interest to a principal sum twice a year, leading to interest being earned on previously earned interest.