Exhibit 3-6 The Closing Stock Price of MNM Corporation for the Last

question 64

Multiple Choice

Exhibit 3-6
The closing stock price of MNM Corporation for the last 7 trading days is shown below.
-Refer to Exhibit 3-6. The variance is

• A)2.828
• B)8
• C)9
• D)81

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Definitions:

General Ledger

A comprehensive set of accounts that records all financial transactions of a business and is used to prepare financial statements.

One Column Purchases Journal

A simplified accounting journal used for recording the total monetary amount of purchases by a business.

Merchandise On Account

Purchasing goods from suppliers on credit, intending to pay at a later date, reflected in accounts payable.

Debits And Credits

The two facets of accounting entries; debits increase assets or decrease liabilities, while credits decrease assets or increase liabilities.