An accounting record of the balances of all assets, liabilities, and stockholders' equity accounts is called a
A) compound entry.
B) general journal.
C) general ledger.
D) chart of accounts.
Correct Answer:
Verified
Q42: After a transaction has been posted, the
Q43: Credits
A)decrease both assets and liabilities.
B)decrease assets and
Q44: Assets normally show
A)credit balances.
B)debit balances.
C)debit and credit
Q45: Chik Chik Company showed the following balances
Q46: The usual sequence of steps in the
Q48: The explanation column of the general ledger
A)is
Q49: Devendra Company pays cash dividends of $600.The
Q50: Prepare a trial balance from the ledger
Q51: Transactions are entered in the ledger first
Q52: A trial balance does not prove that
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