A Column in Journals and Ledger Accounts Used to Cross

question 159

Multiple Choice

A column in journals and ledger accounts 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.

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Definitions:

Negotiable

Legally transferable from one person to another.

Agency's Fee

A charge or payment made to an agency for its services, typically a percentage of the contract value.

Voucher Checks

A type of check that includes vouchers detailing the reason for the payment, often used by businesses for record-keeping purposes.

Three-Ring Binder

A folder or notebook containing three metal rings that hold paper sheets or plastic sleeves, allowing for easy removal and addition of documents.