All of the accounts of a specific business enterprise are referred to as a ledger.
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Answer : True
Explanation : Yes, the given statement is true. As it is said all the accounts of a specific business enterprise are referred to as a ledger. Every account is referred for as a ledger individually. All of the accounts of a business are called ledger, the given statement is true.
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All of the accounts of a specific business enterprise are referred to as a ledger. A....
It is important to consider the business value of any type of Enterprise System or Enterprise System component, when making decisions about whether to acquire, retain, expand, or upgrade such a system True or False?
s. The principle ledger that contains all the balance sheet and income statement accounts is the general ledger a. True b. False 6. Freight-in is considered a cost of purchasing inventory a. True b. False 7. When using FIFO inventory costing method, the most recent goods are assigned to the cost of merchandise sold a. True b. False 8. After a bank reconciliation is completed, adjusting entries are prepared for items in the balance per company's records as well as...
Question 37 2 pts An enterprise system can rewrite enterprise system software to support existing business processes. O True . False
Exercise 2-3 Identifying a ledger and chart of accounts LO C3 Select the item that best completes each of the descriptions below. eBook C a Increases and decreases in a specific asset. liability, equity revenue or expense are recorded in an b. A(n) such as a sales receipt is reable evidence of a transaction and its amount A of accounts is a list of all accounts a company uses not including account balances d Ant has a complete record of...
QUESTION 3 The ledger (T-accounts) keeps track of the balance in each account. True False QUESTION 4 The process of putting transactions into the books begins with the ledger (T-accounts). True False QUESTION 5 The income statement is a product of accounting and has a timeframe of over a period of time. True False Click Save and Submit to save and submit. Click Save All Answers to save all answers. QUESTION 1 Credit sales are a transaction. True False QUESTION...
Which of the following describes a general ledger? O The general ledger describes all liability accounts. O The general ledger combines sales and expenses to determine the net income of a business. O The general ledger is a record of all transactions in alphabetical order O The general ledger is a record containing all accounts used by a company
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Should business transactions credits and debits be recorded directly into the ledger accounts? What are the advantages of recording in the journal before posting transactions into the ledger?
what are the correct answers? An accounts receivable represents the promise of the business to pay a debt. True False All shareholders' equity accounts typically have a credit balance except for dividends which are a debit. True False
A chart of accounts is a list of all ledger accounts and an identification number for each. Identify the following accounts as either an asset (A), liability (L), equity (EQ), revenue (R) or expense (E) account a. Advertising Expense b. Rent Revenue Rent Receivable d Machinery e Accounts Payable Furniture Common Stock Utilities Expense