A Column in Journals and Ledger Accounts That Is Used

question 29

Multiple Choice

A column in journals and ledger accounts that is used to cross reference journal and ledger entries is the:

• A)Account balance column.
• B)Debit column.
• C)Posting reference column.
• D)Credit column.
• E)Description column.

Examine how NCI interacts with profits, retained earnings, and interstate group activities.

Understand the calculation of non-controlling interest (NCI) and its components.

Calculate goodwill using the proportionate interest method.

Calculate goodwill using the fair value method.

---

Definitions:

Autocratic Buying Center

A buying center in which one person makes the decision alone, though there may be multiple participants.

Majority Rules

A decision-making principle whereby the option that receives the most votes or support among a group is chosen.

Networking

The act of connecting with other people to exchange information and develop professional or social contacts.

B2B Marketplace

An online platform that connects businesses for the purpose of buying and selling products and services to each other.