Use the Following to Answer Questions

question 19

Multiple Choice

Use the following to answer questions:
Match each term with the appropriate alternative.
-afferent ___

• A)carries messages toward a given structure
• B)on the same side
• C)carries messages from a given structure
• D)on the opposite side

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Definitions:

Ledger Accounts

Detailed financial records maintained within the ledger, tracking transactions related to specific assets, liabilities, equity, income, and expenses.

Dividends Account

An account that records the dividends declared by a corporation to be distributed to its shareholders.

Net Income

The total profit of a company after all expenses, including taxes, have been deducted from revenues.

Closing Entries

These are journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts, hence preparing the books for the next period.