Which of the Following Would Not Be Found in the Accounting

question 92

Multiple Choice

Which of the following would not be found in the accounting system of a service provider?

• A) cost ledger
• B) finished goods ledger
• C) deferred revenue account
• D) job cost sheets

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Definitions:

Relatively Inelastic

Describes a situation where the demand for or supply of a good or service is relatively unchanged when the price changes.

Legal Services

Professional services provided by lawyers or legal practitioners concerning consultations, legal documentation, representation, and proceedings in court.

Household Electricity

Electrical energy supplied to homes for powering appliances, lighting, and heating.

Elasticity of Demand

A measure of how much the quantity demanded of a good changes in response to a change in its price.