This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: What are the five basic accounts used in creating a general ledger system? What will be an ideal ... (Read 49 times)

jrubin

  • Hero Member
  • *****
  • Posts: 552
on: Jul 26, 2018
What are the five basic accounts used in creating a general ledger system?
 
  What will be an ideal response?

Question 2

What is the basic purpose of an accounting system?
 
  What will be an ideal response?


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

vickybb89

  • Sr. Member
  • ****
  • Posts: 347
Reply #1 on: Jul 26, 2018
Answer to Question 1

The basic accounts used in creating a general ledger system are: assets, liabilities, owners' equity, revenue, and expense.

Answer to Question 2

The basic purposes of an accounting system are to collect and classify financial data.


jrubin

  • Member
  • Posts: 552
Reply 2 on: Jul 26, 2018
YES! Correct, THANKS for helping me on my review

hramirez205

  • Member
  • Posts: 345
Reply 3 on: Yesterday
Gracias!

« previous next »
 

Did you know?

Symptoms of kidney problems include a loss of appetite, back pain (which may be sudden and intense), chills, abdominal pain, fluid retention, nausea, the urge to urinate, vomiting, and fever.

Did you know?

The calories found in one piece of cherry cheesecake could light a 60-watt light bulb for 1.5 hours.

Did you know?

Vampire bats have a natural anticoagulant in their saliva that permits continuous bleeding after they painlessly open a wound with their incisors. This capillary blood does not cause any significant blood loss to their victims.

Did you know?

Colchicine is a highly poisonous alkaloid originally extracted from a type of saffron plant that is used mainly to treat gout.

Did you know?

Hip fractures are the most serious consequences of osteoporosis. The incidence of hip fractures increases with each decade among patients in their 60s to patients in their 90s for both women and men of all populations. Men and women older than 80 years of age show the highest incidence of hip fractures.

The male reproductive system. The male reproductive system.
Circulatory System Circulatory System
Basic brain diagram Basic brain diagram
Disorders of the Female Reproductive System Disorders of the Female Reproductive System
The metric system specifies fasteners by diameter, length, and pitch. The metric system specifies fasteners by diameter, length, and pitch.
Basic Food Groups and Their Major Nutrients (Continued) Basic Food Groups and Their Major Nutrients (Continued)
Video: Structures that affect circulation - heart and systolic/diastolic BP

For a complete list of videos, visit our video library