Which Statement Is Not Correct? the General Ledger Master File

question 39

Multiple Choice

Which statement is not correct? The general ledger master file

• A)is based on the firm's chart of account
• B)contains a record for control accounts
• C)is an output of the financial reporting system (FRS)
• D)supplies information for management decision making

Recognize the historical development of money and banking, including the role of early bankers.

Analyze the role of financial institutions as intermediaries between savers and borrowers.

Understand the factors that influence the value and acceptance of fiat money.

Explain how money facilitates commitments for future payments.

---

Definitions:

Decision Making

The method of selecting options through recognizing a choice to be made, collecting relevant information, and evaluating different solutions.

Determining Accomplishments

The process of identifying and recognizing achievements or completed objectives.

Best Course

A term that generally refers to the most effective or advantageous educational or instructional path for learning a specific subject or skill.

Bounded Rationality

A concept suggesting that in decision-making, individuals' rationality is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make decisions.