An Entry Made to the Right Side of an Account

question 54

Multiple Choice

An entry made to the right side of an account is called a

• A)debit.
• B)credit.
• C)double-entry system.
• D)journal entry.

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Definitions:

Statement of Activities

A financial report summarizing a nonprofit organization's revenues, expenses, and changes in net assets for a specific period.

Supporting Service Costs

Expenses related to activities that do not directly contribute to a company's primary business operations but support the overall functionality and efficiency of the business.

Voluntary Health

Health services or insurance schemes that individuals choose to participate in, as opposed to being compulsory.

Statement of Operations

A financial report that summarizes a company's revenue, expenses, and profits/losses over a specific period of time.