________ Means Society's Accepted Standards of Behavior and Always Involves

question 5

Multiple Choice

________ means society's accepted standards of behavior and always involves basic questions of right and wrong.

• A) society assessment
• B) non-normative statement
• C) morality
• D) distributive assessment

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Definitions:

Ledger

A comprehensive collection of accounts that records all financial transactions of a business, serving as the principal book for accounting.

Trial Balance

An accounting report that lists the balances of all ledger accounts to ensure that debits equal credits, used for internal checks.

Owner's Drawings

Owner's disbursements from a business in either a sole proprietorship or partnership for personal expenditures.

Salaries and Wages Expense

The total amount spent by a business on its employees' salaries and wages during a specific period.