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:

High-Speed Spins

Rapid rotations often related to vehicles or objects, characterized by performing spins at a high velocity.

Semicircular Canals

Structures in the inner ear that are key to the vestibular system, helping to maintain balance and spatial orientation.

Balance

The state of having equilibrium, or the ability to maintain bodily equilibrium or to weigh decisions and actions evenly.

Sensations

The process by which sensory receptors receive stimuli from the environment, leading to immediate, simple experiences.