What is a general ledger - Study guides, Class notes & Summaries

Introduction and overview of the module ......................................................... ii LEARNING UNIT 1 Introduction to the preparation of financial statements .......................... 1 LEARNING UNIT 2 Financial statements of a sole proprietorship ........................................ 24 LEARNING UNIT 3 Establishment and financial statements of a partnership ...................... 46 LEARNING UNIT 4 Changes in the ownership structure of partnerships ..............

CAM -Certified Apartment Manager (Latest 2024/ 2025 Update) |Qs & As| 100% Correct| Grade A (Verified Answers) Q: As an investor advocate, your primary goals are to Answer: 1. meet financial goals of the investment 2. add value to a property Q: To meet the financial goals of an investment you must: Answer: Generate and collect income minimize economic loss control expenses Q: What information do you need in order to complete a financial analysis on a property? ...

Bookkeeping Basics Questions and Answers Graded A+ What is a subsidiary ledger? A subsidiary ledger provides detailed information about specific types of transactions that are summarized in the general ledger, such as accounts receivable or accounts payable. What is meant by " accrual accounting"? Accrual accounting recognizes revenues and expenses when they occur, rather than when cash is received or paid. What does a trial balance reveal about a company's financial records...

PEREGRINE EXAM QUESTIONS AND ANSWERS 100% CORRECTPEREGRINE EXAM QUESTIONS AND ANSWERS 100% CORRECTPEREGRINE EXAM QUESTIONS AND ANSWERS 100% CORRECT What is a general ledger? - ANSWER-A general ledger account is an account or record used to sort, store and summarize a company's transactions. asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment liability accounts including Notes Payable, Accounts Payable, Accrued Expenses Payable, and Customer Depos...

CAM,Certified Apartment Manager Exam Review (Latest 2024/ 2025 Update) |Qs & As| 100% Correct| Grade A (Verified Answers) Q: What are the differences among mid, low, and high rise apartment buildings? Answer: A low rise has 4 stories or fewer A mid rise has 5-10 stories A high rise has more than 10 stories Q: What is a corporate apartment? Answer: A fully furnished apartment equipped with all necessary amenities. Q: 4 stories or fewer Answer: A low rise Q: Has 5-1...

AAT Level 2 - Bookkeeping Transactions Questions and Answers 100% Pass What is the purpose of a sales invoice? A sales invoice documents the sale of goods or services, detailing the amount owed by the customer. How are purchases recorded in bookkeeping? Purchases are recorded as debits in the purchases account and credits in the accounts payable account. What is the function of a petty cash book? A petty cash book tracks small, everyday expenses paid in cash, helping to manage ...

Bookkeeping Ch 1-6 Questions and Answers Already Passed What is the primary purpose of bookkeeping? The primary purpose of bookkeeping is to systematically record and organize financial transactions to provide accurate financial information. What is an account in bookkeeping? An account is a record used to track financial transactions related to a specific asset, liability, equity, revenue, or expense. What is the difference between a debit and a credit? A debit increases a...

AIS Study Exam I Questions & Answers 2024/2025 How can the outline/summaries be useful? - ANSWERSIntroducing material, study checklist Relevance - ANSWERSMakes a difference in a decision; enhances decision making (predictive value, feedback value, timeliness) Reliability - ANSWERSAccuracy of information (verifiability, neutrality, faithful representation) Example from target breach. - ANSWERSHackers got customer name, credit card #, and pin Elements - ANSWERSData Characterist...

What is a general ledger? - ACCURATE ANSWERS A general ledger account is an account or record used to sort, store and summarize a company's transactions. asset accounts such as Cash, Accounts Receivable, Inventory, Investments, Land, and Equipment liability accounts including Notes Payable, Accounts Payable, Accrued Expenses Payable, and Customer Deposits stockholders' equity accounts such as Common Stock, Retained Earnings, Treasury Stock, and Accumulated Other Comprehensive Income...

New York Life Insurance Questions and Answers Already Passed Accelerated Benefits Riders attached to life insurance policies which allow death benefits to be used to cover nursing or convalescent home expenses. Accidental Death Benefits A policy rider that states that the cause of death will be analyzed to determine if it complies with the policy description of accidental death. Accidental Death Insurance An insurance policy that provides payment if the insured's death is the result of an acc...