A Ledger Is

question 13

Multiple Choice

A ledger is:

• A) A record containing increases and decreases in a specific asset, liability, equity, revenue, or expense item.
• B) A journal in which transactions are first recorded.
• C) A collection of documents that describe transactions and events entering the accounting process.
• D) A list of all accounts with their debit balances at a point in time.
• E) A record containing all accounts and their balances used by a company.

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Definitions:

Merger

The combination of two or more companies into a single entity, typically to achieve greater efficiencies and strengthen market position.

Acquisition

The act of obtaining control of another company or asset through purchase or exchange.

Conglomerate Merger

A type of business combination where two or more companies in unrelated industries come together to form a single corporate entity.

Budget Cutbacks

The process of reducing budgeted expenditures, often in response to fiscal deficits, economic downturns, or reallocation of resources.