A Balance Column Ledger Account Is

question 67

Multiple Choice

A balance column ledger account is:

• A) An account entered on the balance sheet.
• B) An account with debit and credit columns for posting entries and another column for showing the balance of the account after each entry is posted.
• C) Another name for the withdrawals account.
• D) An account used to record the transfers of assets from a business to its owner.
• E) A simple form of account that is widely used in accounting to illustrate the debits and credits required in recording a transaction.

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Definitions:

Americans

People from or living in the United States, characterized by diverse origins, cultures, and languages.

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To provide reasons or incentives for someone to act or behave in a particular way.

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Refers to the physical, non-human inputs used for the production of economic value, such as factories, machines, and tools.

Marx

Karl Marx, a 19th-century philosopher and economist known for his theories on capitalism, class struggle, and the development of socialist thought.