The Verification That the Total Dollar Amount of the Debits

question 13

Multiple Choice

The verification that the total dollar amount of the debits equals the total dollar amount of the credits in the ledger is called a

• A) ledger
• B) trial balance
• C) account
• D) balance sheet

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Definitions:

Extraordinary Loss

A loss resulting from events that are both unusual and infrequent, often reported separately on financial statements.

Capitalized

The process of recording a cost or expense on the balance sheet for the purposes of delaying full recognition of the expense over time through depreciation or amortization.

Raze

To completely tear down or demolish a building or structure.

Lump Sum

A single payment made at a particular time, as opposed to several smaller payments or installments.