A Field Identified in a Record as Holding the Unique

question 80

Multiple Choice

A field identified in a record as holding the unique identifier for that record is called the:

• A) primary key.
• B) key field.
• C) primary field.
• D) foreign key.
• E) identifying field.

Recognize the differences in the sales journal under perpetual and periodic inventory systems.

Understand the process and significance of online processing in data entry.

Comprehend the importance and types of source documents in an accounting system.

Know how to identify and rectify posting errors in accounting.

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Definitions:

Consolidated Financial Statements

Combined financial statements of a parent company and its subsidiaries, presenting the financial results as if the group were a single entity.

Investee

A party or entity in which an investor holds an interest, often through ownership of securities.

Common Stock

Equity ownership in a corporation, with rights to share in its profits and vote in company decisions.

Historical Cost Principle

An accounting principle that states assets should be recorded and reported at their original purchase cost.