Multiple Choice
A place or location within an accounting system in which the increases and decreases in a specific asset, liability, or equity item is recorded and stored is called a(n)
A) journal
B) ledge
C) trial balance
D) account
E) chart of accounts
Correct Answer:
Verified
Correct Answer:
Verified
Q95: Of the following accounts, the one that
Q96: A general journal entry usually includes information
Q97: An account balance is<br>A) the total of
Q98: A transaction that decreases an asset account
Q99: The process of copying journal information to
Q101: While in the process of posting from
Q102: The accounting cycle begins with<br>A) preparing financial
Q103: Purchasing supplies on credit increases assets while
Q104: Increases in liabilities are recorded as debits.
Q105: Unearned revenues are<br>A) revenues that have been