An account balance is the difference between the debits and credits for an account including any beginning balance.
举一反三
- The official settlements balance or balance of payments is the sum of the current account balance and the capital account balance.
- An analysis that explains any differences between the checking account balance according to the depositor’s records and the balance reported on the bank statement is a(n) . ( ) A: bank reconciliation B: analysis of debits and credits C: trial reconciliation D: internal audit E: bank audit
- A simple account form widely used in accounting as a tool to understand how debits and credits affect an account balance is called a: A: Withdrawals account. B: Capital account. C: Drawing account. D: T-account. E: Balance column sheet.
- The current account balance does NOT equal ____. A: the difference between domestic product and domestic expenditure. B: the difference between national saving and domestic investment. C: net foreign investment. D: the difference between government saving and government investment.
- Net profit is calculated in the A: Trading account B: Profit and loss account C: Trial balance D: Balance sheet