Which of the Following Is a Result of Calculations on Your

question 133

Multiple Choice

Which of the following is a result of calculations on your semester grade report?

• A)course sections
• B)name
• C)term
• D)grade point average

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Definitions:

Journal

An elaborate log that captures every financial transaction of an enterprise, initially entered prior to its transfer to the accounts within the general ledger.

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.