The Ledger

question 146

Multiple Choice

The ledger:

• A)is a grouping of all of the balance sheet accounts only.
• B)is a grouping of all the income statement accounts only.
• C)contains all the accounts used by a business.
• D)contains only the permanent accounts used by a business.

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Definitions:

Existential Import

In logic, the presumption that a statement implies the existence of the subject it mentions.

Modern View

Contemporary or current perspectives and interpretations in various fields such as art, literature, science, and philosophy.

Existential Import

The implication that a categorical proposition presupposes the existence of the subject about which it makes a statement.

Traditional View

A perspective or belief that leans towards practices and ideas that are handed down from past generations.