A Record of All the Changes in a Particular Asset

question 59

Multiple Choice

A record of all the changes in a particular asset, liability, or stockholders' equity during a period is called a(n) :

• A) transaction.
• B) trial balance.
• C) journal.
• D) account.

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Definitions:

College Education

A postsecondary education program that leads to an academic degree or professional qualification, typically offered by colleges and universities.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor of production or resource.

Resource Price

The cost associated with acquiring a resource needed for production, such as labor, materials, or capital.

Marginal Revenue Product

The additional revenue generated from employing one more unit of a factor, such as labor or capital.