The General Ledger Includes Three Types of Accounts

question 14

Multiple Choice

The general ledger includes three types of accounts.They are; permanent, operating and:

• A)​Temporary
• B)​Budget
• C)​Fixed
• D)​Nominal

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Definitions:

Within Industries

Pertains to activities, competitions, and regulatory considerations occurring inside a specific sector or type of business.

Market Firms

Organizations that operate in a specific market, engaging in the production, distribution, or trading of goods or services.

Small Number

A numeric value that is considered to be significantly less in magnitude compared to typical or average values.

Large Number

A numeric value that is significantly above average or expected in size or magnitude.