Which Pair of Relatives Represents a First-Degree Relationship

question 10

Multiple Choice

Which pair of relatives represents a first-degree relationship?

• A)Grandfather and grandson
• B)Aunt and nephew
• C)Sister and brother
• D)Cousins

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Definitions:

Income Statement

A financial statement that shows a company's revenues, expenses, and profits or losses over a specific period of time.

Trial Balance

A report that lists the balances of all general ledger accounts at a certain date, used to verify that the total of all debit balances equals the total of all credit balances.

Journalizing Transactions

The process of recording financial transactions in a company's accounting records, or journals, in chronological order.

Balance Sheet

A statement that outlines an enterprise's assets, liabilities, and the equity held by shareholders, pinpointed to a specific time frame.