A Report That Lists Accounts and Their Balances,in Which the Total

question 180

Multiple Choice

A report that lists accounts and their balances,in which the total debit balances should equal the total credit balances,is called a(n) :

• A)Account balance
• B)Trial balance
• C)Ledger
• D)Chart of accounts
• E)General journal

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Definitions:

Average Payments

The mean amount paid over a defined period payments.

Average Daily Float

The average amount of uncollected funds represented in checks or other negotiable instruments over a specified period.

Lockbox System

A service provided by banks to accelerate collection of payments by having those payments sent to a special post office box rather than to the company.

Treasury Bills

Represent short-term government securities issued at a discount from the par value and mature without interest payments.