Qualitative Aspects of Information Are Those for Which Measurement in Dollars

question 39

True/False

Qualitative aspects of information are those for which measurement in dollars and cents is easy and precise.

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Definitions:

General Ledger

The primary accounting record of a business which contains all the balance sheet and income statement accounts.

Trial Balance

A bookkeeping worksheet where the balances of all ledgers are compiled into debit and credit account column totals that are equal.

Trial Balance

A ledger balance compilation sheet in bookkeeping, organizing debit and credit balances into columns that have equal totals.

Financial Statement Order

The sequence in which financial reports, such as the balance sheet, income statement, and cash flow statement, are prepared and presented.