Taxes cause deadweight losses because taxes prevent buyers and sellers from realizing some of the gains from trade.
The outcome is the same whether the taxes on a good apply to the consumers or sellers of that good. When purchasers pay the tax, the demand curve shifts downward by the same percentage as the tax; when sellers pay the tax, the supply curve shifts upward by the same percentage as the tax. When a tax is implemented, the price that purchasers pay rises and the price that sellers receive falls in both situations. How the taxes burden is split between producers and consumers is ultimately determined by the elasticities of supply and demand. No matter who pays the tax, the distribution is the same.
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the following table shows prices and quantities in the hypothetical economy of moneyville for two different items in two different years. assume these are the only two items produced in this economy. prices and output in a two-item economy good 1 good 2 year price output price output year 1 $5 50 10 25 year 2 9 40 15 10 instructions: enter your answers as a whole number. a. calculate nominal gdp for year 1 and year 2. year 1 nominal gdp: $ 500 year 2 nominal gdp: $ 510 nominal gdp increases between year 1 and year 2. b. calculate real gdp for year 1 and year 2 using year 1 as the base year. year 1 real gdp: $ year 2 real gdp: $ real gdp decreases between year 1 and year 2.
Assume these are the only two items produced in this economy.Real GDP redused between 1st year and 2nd year.
Nominal GDP year 1 = Price (Good 1) (Year 1) x Quantity (Good 1) (Year 1) + Price (Good 2) (Year 1) x Quantity (Good 2) (Year 1) = 8*30 + 11*20 = 240 + 220 = 460
Nominal GDP year 2 = Price (Good 1) (Year 2) x Quantity (Good 1) (Year 2) + Price (Good 2) (Year 2) x Quantity (Good 2) (Year 2) = 16*20 + 15*18 = 320 + 270 = 590
Hence nominal GDP increases between year 1 and year 2
Real GDP year 1 = Price (Good 1) (Year 1) x Quantity (Good 1) (Year 1) + Price (Good 2) (Year 1) x Quantity (Good 2) (Year 1) = 8*30 + 11*20 = 240 + 220 = 460
Real GDP year 2 = Price (Good 1) (Year 1) x Quantity (Good 1) (Year 2) + Price (Good 2) (Year 1) x Quantity (Good 2) (Year 2) = 8*20 + 11*18 = 160 + 198 = 358
Real GDP is redused between 1st year and 2nd year.
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dustin co. makes three products, a, b and c. they have a constrained resource - machine hours. there are only 16,913 machine hours available a month. the three products have the following data: abc selling price per unit6.0016.0011.00 variable cost per unit2.004.006.00 machine hours required245 demand for product in units 1,1834,0611,006 how much of product b should be produced?
4096 units of B should be produced.To have the biggest contribution margin, Product B should be produced initially at the highest demand.
The need for a specific product and who wants to buy it are described by market demand. How willing buyers are to pay a specific price for a specific commodity or service will determine this. Price rises as market demand does as well.
Price will decrease along with a decline in demand. The term "product demand" (also known as "market demand") refers to how much consumers desire a company's goods throughout a specific time frame. The amount of people looking for the product, their willingness to pay, and the quantity that is accessible for consumers to buy it are some of the variables that affect demand.
Market demand fluctuations happen throughout time as a result of regular trends like seasons or unanticipated external sources .
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harold is developing a tech startup. he wants to develop a strong organizational culture, a good marketing plan, and a coherent business strategy in order to attract investors and customers. what is the foundation for developing these strengths?
The correct answer is SWOT method of business development.
SWOT stands for Strength, Weakness, Opportunity, and Threats in its entire form. The SWOT analysis enables one to identify your competitive advantages, areas for business expansion, and weak points. One can use this simple tool to find out what possibilities and risks a business faces.
Harold pays close attention to the demands and pulse of the clients who want to learn how to surf. It is a necessary component of assessing the potential and the power of the clientele.
By contrasting the operational processes of other persons engaged in the same surfing business, Harold also keeps an eye on the weaknesses and threats.
Along with identifying the weakness, Harold must also demonstrate the threat by redesigning his business strategy, which shouldn't be overlooked by current clients who are considering using the services of business people.
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according to the capm, what is the market risk premium given an expected return on a security of 13.6%, a stock beta of 1.2, and a risk-free interest rate of 4%?
The market risk premium is 8%
What is the market risk premium?The difference between the anticipated return on a market portfolio and the risk-free rate is known as the market risk premium.It offers a numerical assessment of the additional return that market participants seek in exchange for the elevated risk.The slope of the security market line (SML) connected to the CAPM (capital asset pricing model) represents the market risk premium.Compared to the equity risk premium, which only takes the stock market into account, the market risk premium is broader and more diverse. The equity risk premium is frequently larger as a result.Calculation
Expected return on a security E(r) = 13.6%
Stock beta (b) = 1.2
Risk-free return R(f) = 4%
E(r) = risk-free return + stock beta * market risk premium
⇒ 13.6% = 4%+1.2* market risk premium
Therefore, market risk premium = 8%
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which topic is generally covered in a negotiated labor-management agreement? group of answer choices management compensation grievance procedures management fringe benefits corporate pricing policy
In a normal negotiated labor-management agreement, topics like pay rates, work hours, employee benefits, and job rights and seniority are handled.
What are negotiations between labor and management called?Through collective bargaining, employees negotiate contracts with their employers to establish their terms of employment, including compensation, benefits, working conditions, hours, leave, workplace health and safety regulations, methods of juggling work and family obligations, and more.An approach to resolving issues at work is through collective bargaining. It is also the most effective way to increase wages in America.The right to collective bargaining is also recognised by international human rights conventions. The National Labor Relations Act of 1935 clarified the bargaining rights of the majority of other private-sector workers and established collective bargaining as the "policy of the United States."To Learn more About labor-management agreement refer to :
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which candidate for the position of ceo provides the best opportunity for strategic change to occur within the firm?
Someone from outside the firm and outside the firm's industry candidate for the position of CEO provides the best opportunity for strategic change to occur within the firm.
What part does management play in a change in strategy?
Companies can implement necessary changes with care and responsibility through strategic change management. The process of managing change in an organized, deliberate manner in order to fulfill organizational goals, objectives, and missions is known as strategic change management.
Effective leaders carry out the routine duties involved in developing and implementing a strategy. They create a strategic vision and mission, establish goals and objectives, build the tactics, put them into action, and then assess the results
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which pair of events illustrates an accurate cause-and-effect relationship? question 33 options: sacco and vanzetti trial ratification of the woman suffrage movement red scare demand for limits on immigration rebirth of the kkk formation of the populist party high food prices start of the great depression
Events illustrates an accurate cause-and-effect relationship---Red Scare demand for limits on immigration
Option B is correct.
Why is cause and effect important?Understanding cause and effect helps scholars know what happened in the story as well as why it happened is important. It's also a precious life skill because this is how we learn to understand the consequences of our conduct. A cause is an action or event that happens and results in another event or action passing.
What changed in Great Depression?Lasting nearly 10 times( from late 1929 until about 1939) and affecting nearly every country in the world, it was marked by steep declines in artificial product and in costs( deflation), mass severance, banking panics, and sharp increases in rates of poverty and homelessness.
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dawn wants to join a new gym. she has seen flyers campus that promote a new gym in town. dawn decides to use the one free pass presented on the flyer to try out the gym to see if it will meet her needs. what stage of the consumer adoption process does this represent?
Product awareness, interest in the product, product evaluation, product testing, and product adoption are the five stages.
Consumers look for information about the product at this stage of the adoption process, which is known as the interest (information-gathering stage). Evaluation (step of consideration): The consumer chooses whether or not to try the new product at this point in the process. The process of consumer adoption begins with the product awareness stage. It describes the time when a potential consumer first learns about your good or service and begins to think about buying it. It's time to formally register your interest in becoming an adoptive parent and go through the first round of checks, now referred to as Stage One, once you have found an agency that you feel comfortable with.
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kassie is a merchant who sells electronic equipment. adam is an electronics enthusiast who sells and buys parts for various electronic projects he is undertaking. according to article 2 of the uniform commercial code (ucc), which party has a higher standard of behavior?
According to article 2 of the uniform commercial code (ucc), Kassie's party has a higher standard of behavior.
What is Uniform Commercial Code?The Uniform Commercial Code (UCC) is a code of proposed commercial statutes adopted by all states as state law.
According to Article 2 of the Uniform Commercial Code, any written document signed by a merchant in which he promises to buy or sell goods is a firm offer that cannot be revoked.
Essentially, in order for an offer to be considered a firm offer, it needs to be in writing, it needs to be signed by the party, and most importantly, it needs to state a promise to perform a transaction.
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What term means that both management and employees strive to meet common objectives?.
When both management and employees strive to meet common objectives, it's called mutual commitment.
To be able to do mutual commitment in a business or organization, both management and employees need to appreciate each others' work and roles. It occurs as a part of the reciprocal process in a business or organization where the focus is on others before self. There are some things that must be taken care of to create mutual commitment:
Make sure that people are valued through meaningful work.Develop a sense of belonging for each member. Align objectives and goals, both personal and corporate, to achieve shared mutual commitments.Learn more about mutual commitment at https://brainly.com/question/14104754
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what is the pool of money that is collected from a $3 check-off on the federal income tax form that is available to presidential candidates for campaign expenses?
To participate in the primary matching fund program, a presidential candidate must demonstrate broad support by raising more than $5,000 in matching contributions in each of 20 different states.
Moreover, under the Presidential Public Financing Program, eligible presidential candidates receive funds from the federal government to pay qualified expenses for their political campaigns in the primary and general elections.so thats whyTo participate in the primary matching fund program, a presidential candidate must demonstrate broad support by raising more than $5,000 in matching contributions in each of 20 different states. Candidates must agree to use public funds only for campaign expenses and must adhere to spending limits.
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find how much money should be deposited in a bank paying interest at the rate of 3.5%/year compounded quarterly so that at the end of 3 years, the accumulated amount will be $80,000. (round your answer to the nearest cent.)
Depositing $70190 in a bank that offers interest at a rate of 3.5% per year compounded quarterly will result in an accumulation of $80,000 after three years.
What is the formula for compound interest?Compound interest is the practice of adding interest to the principal of a loan or deposit. It is sometimes referred to as interest on principal and interest.
The future value of a loan or investment may be determined using the formula FV = P*(1+R/N)(N*T), where FV is the future value, P is the original principal, R is the annual interest rate, N is the number of times interest is compounded annually, and T is the amount of time in years.
In the given question.
Amount = $80,000
Interest= 3.5%
Time= 3 year
compounded quarterly
A = P [tex](1+ \frac{r}{4}) ^{4t}[/tex]
80,000= P [tex](1+ \frac{35}{4000}) ^{12}[/tex]
80,000= P [tex](\frac{4035}{4000}) ^{12}[/tex]
P= 80,000 x [tex](\frac{4000}{4035}) ^{12}[/tex]
P= 80,000 x [tex](0.99)^{12}[/tex]
P= $70190
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on january 1, year 1, zeta corporation issues $100,000 of 8% bonds maturing in 10 years, when the market rate of interest is 9%. market interest rates drop to 7% by december 31, year 1. the company retires the bonds on december 31, year 1 by paying $106,595. the carrying value of the bonds as of this date is $93,920. the journal entry for retirement of the bonds will include a:
The journal entry for retirement of the bonds will include $106,595 , which is option a of the given question.
Write about a journal entry.A journal entry acts as a record of a commercial transaction in your company's books. In double-entry accounting, each transaction necessitates at least two journal entries. A bookkeeper tracks all the alterations that a transaction might make to a company by noting them in their diary.
What Exactly Is a Journal Entry in Accounting?Each journal entry contains the date, the amount to be credited and debited, a brief description of the transaction, the accounts involved, and other information relevant to a single business transaction. It might contain a list of the affected subsidiaries, tax data, and other information, depending on the business.
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myca corporation has a project with the following cash flows. what is the value of the cash flows today assuming an annual interest rate of 9.1 percent? year cash flow 1 $ 1,640 2 2,030 3 2,325 4 2,335
Myca Corp. has a project with the following cash flows. The value of the cash flows today assuming an annual interest rate of 10.6 percent is $7,799.44.
What is cash flow?The flow of money into and out of an organisation is known as cash flow. Cash outflows are represented by cash inflows, and vice versa. The cash flow statement is a type of financial statement that details the sources and uses of a company's cash over time.
The quantity of cash entering and leaving your business over a specific time period is known as cash flow. Because it enables you to both meet your current financial obligations and make plans for the future, cash flow is crucial.
Net income and non-cash expenses should be added, followed by the change in working capital and capital expenditures, to determine free cash flow.
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The cost and value of inventory increase as materials move down the supply chain. One way operations and supply chain managers counteract the negative aspect of this fact is by.
The value and cost of stock growth as substances pass down the deliver chain. One manner operations and deliver chain managers counteract the poor factor of this truth is by Inventory pooling.
Inventory pooling refers to a firm's potential to serve a couple of markets–every with their personal unsure call for– from a unmarried inventory of stock. The exercise is regularly analyzed withinside the context of distinct, however closely. related, cases: region pooling and product pooling. Inventory pooling is a collaborative association wherein one-of-a-kind sellers percentage their inventories to lessen the whole stock value.
Risk Pooling entails the use of centralized stock as an alternative of. decentralized stock to take benefit of the truth that if. call for is better than common at a few retailers, it's miles probably to be. decrease than common at others. Pooling, additionally called deliver pooling , is composed in grouping items collectively from numerous commercial or industrial organizations throughout a customer's procurement process, dispatched both to at least one or numerous addresses, the use of optimised and consequently complete trucks.
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During the coronavirus pandemic in 2020, demand for frozen pizza almost doubled without price changes for these products. Economists call this.
Due to significant shifts in demand and bottlenecks in farm labour, processing, transport, and logistics, the COVID-19 pandemic has put unprecedented strain on the food supply chains.
The majority of these disruptions are the result of measures taken to stop the virus's spread. Despite these stresses, food supply chains have shown remarkable resilience. As stockpiling behaviour decreased and supply chains adjusted to rising demand, grocery store shelves were restocked over time. Long lines at borders quickly disappeared as a result of policies that reduced pointless restrictions. Although the effects of COVID-19 are still being felt, experience to date demonstrates the value of an environment for open and predictable global trade to ensure that food can get where it is needed.
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Look up data on the current unemployment rate, inflation rate, and/or GDP growth rate. Based on your data, comment on the current state of the economy.
Visit the "U.S. Economy at a Glance" page of U.S. Bureau of Economic Analysis website (via bea.gov)Links to an external site. for the current data.
Post a brief paragraph responding to the discussion prompt above. Your post should use concepts presented in this module. Your post must be completed before you can see posts from your classmates.
Current dollar GDP increased 6.7 percent year on year, or $414.8 billion, to $25.66 trillion in the third quarter.
The national unemployment rate was 3.7 percent in October 2022.
What is unemployment rate?The unemployment rate is the proportion of workers in the labor force who are unemployed but actively looking for work. This measure excludes people who have not looked for work in the last four weeks.
Inflation is defined as an increase in the price of goods and services purchased by households. The rate of change in those prices is used to calculate it. Prices typically rise over time, but they can also fall (a situation called deflation).
The annual average rate of change in the gross domestic product (GDP) at market prices in constant local currency for a given national economy over a specified time period.
In this case, the percentages for the unemployment as well as the GDP of the United States is given above.
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if i high tech firm wanted to set up operations in iran, what steps could it take to ensure that the subsidiary would not be expropriated? identify and describe three strategies that would be particularly helpful. how can you approach potential future changes in the political environment strategically? (ch.10)
This can entail finding a partner that depends on the parent company for crucial aspects of the business, like funding, research, and technology, so that there is no real motivation to keep the partner.
The company could, for example, find some Iranian allies in the area. The government would see the company more favorably as a result.
Additionally, by limiting the use of advanced technology, the company could make it less profitable for the Iranian government to seize its assets (since they would not have the option to copy any significant cutting edge advancements). The company may now create dependencies at last.
Project dependencies deal with managing and scheduling project tasks while taking their sequences and requirements into consideration. Task B will be referred to as dependent on Task A if it is necessary for Task A to be completed. This may seem easy now, but things can get complicated in projects with many interconnected tasks.Learn more about Dependencies, here
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what is added to the variable selling and administrative expenses to get the total selling and administrative expenses? multiple choice question. non-cash selling and administrative expenses direct materials merchandise purchases fixed selling and administrative expenses
D) Fixed selling & administrative expenses is added to the variable selling and administrative expenses to get the total selling and administrative expenses.
Selling, General & Administrative (SG&A) costs are any ongoing business expenses that are not related to the creation of products or the provision of services.
Rent, payroll, marketing and advertising charges, and distribution fees are examples of typical SG&A costs. Companies can lower overhead expenses and boost profitability by analyzing SG&A.
There are numerous SG&A line items that are fixed expenditures that must be covered regardless of output or sales volumes, including rent and basic salary. Other SG&A expenses, such distribution costs, are cyclical and often shift in response to changes in sales volumes.
Others may still be semi-variable, such as base fees plus an extra cost component whose value changes depending on consumption. A typical illustration of a semi-variable cost is a utility bill.
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has her age listed on her driver's license as being three years younger than it actually is. this is also how old she tells her insurance company she is. her insurance company has discovered she lied about her age. what provision of her life insurance contract states that her benefits will be what her premium would have bought if she had been truthful about her age?
Misstatement of age is the provision of her life insurance contract which states that her benefits will be what her premium would have bought if she had been truthful about her age.
A life insurance policy is a contract with an insurance company. In exchange for regular payments, the company agrees to pay a lump sum to your beneficiaries if you die. The idea is to help your loved ones cover expenses like funeral costs and everyday living expenses if you're no longer around to provide for them.
It is important to make sure you understand the contract before you sign on the dotted line - there's no point in having life insurance if your beneficiaries won't actually receive the death benefit.
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Supply chain management describes the coordination of all supply chain activities, starting with _______ and ending with _______.
Supply chain management describes the coordination of all supply chain activities, starting with raw materials and ending with a satisfied customer.
In the field of business, supply chain management can be described as a management process through which the raw materials required for making a product are converted into a finalized product that satisfies the customers.
Supply chain management includes a proper assessment of all the steps that are required for converting raw materials into finalized products. If the processes of making a product are not managed or coordinated then several mistakes can arise in the making of the product risking the quality of the product.
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Wireless Solutions reports operating expenses of $835,000. Operating expenses include both rent expense and salaries expense. Prepaid rent increases during the year by $15,000 and salaries payable increases by $12,500. What is the cash paid for operating expenses during the year? (List cash outflows and any decrease in cash as negative amounts. )
Cash Paid for operating expenses during the year $830,000
What are operating expenses?
Operating expenses are costs that a business incurs to maintain its core operations on a daily basis.
In the above case
Total Operating Expenses reported by Wireless Solutions = $835,000
Increase in Prepaid Rent means ---during the year company has paid amount for prepaid expenses.
Increase in Salaries Payable means the salaries are outstanding and payment was not made by the company.
Operating expenses reported by company $835,000
Add: Increase in Prepaid expenses $15,000Less: Increase in Salaries Payable ($20,000)Cash Paid for operating expenses during the year $830,000
Hence, Cash Paid for operating expenses during the year $830,000
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when determining levels of equity, individuals will often compare their input/output ratio with that of a comparison person. that person is labeled the
The determining levels of equity, individual will often compare their input/output ratio with that of a comparison person is referent
The person, thing, or idea that a word or expression designates, stands for, or refers to is known in English grammar as a referent (REF-ER-UNT). For instance, the term door in the sentence "The black door is open" refers to a specific black door, which is a real thing. Relates to or is referred to. particularly: what a symbol (such as a phrase or sign) denotes
The four levels of measurement, which can be ranked from low to high, are as follows: Nominal: The data can only be categorized. Ordinal: The information is classifiable and rank. Data can be evenly spaced, classified, and rated. Interval
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Deborah has just gotten a request from a candle vendor. She is looking for a place to sell her newest holiday candles. What type of event might Deborah suggest the vendor take part in?
Question 1 options:
theater style meeting
forum
exposition
boardroom style meeting
Forum Events, an open forum for discussion in the public. For those who are interested in local history, the club offers a forum: a venue for open discourse or the presentation of views.
What is Holiday Season?The time from Thanksgiving to New Year's is usually referred to as the holiday season. In America, the conclusion of Thanksgiving day (informally) ushers in the holiday season. We are rapidly nearing Christmas, Kwanzaa, Hanukkah, and the new year. Building a solid connection between family and our community via holiday customs is crucial. They provide us a sense of belonging and a channel through which we can express our values. They support our family gatherings and strengthen our ties to the past.
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which target market the Beetle’s makers and promoters were aiming at.
The target market for the new Beetle are people between 18-34 years old as well as baby boomers.
Who encouraged the Volkswagen Beetle's development?A review of a German success story in this article. The Volkswagen Beetle was created by two individuals, Adolf Hitler and Ferdinand Porsche, and it was a massive undertaking.
Therefore, the Segmentation of the New Beetle People who are "psychologically young," individualistic, self-assured, and nonconformist should be the New Beetle's target market.
According to research, prospective New Beetle drivers exhibited traits including self-assurance, independence, and a desire to command attention. They enjoyed driving and valued German engineering and spirited designs.
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an unscrupulous creditor might sell the right to collect the same debt to two different persons by assigning it to each of them. which one of the two innocent assignees is entitled to payment and why? (2 marks)
An assignable contract is a derivative contract that contains a clause allowing the holder to transfer the obligations and rights of the contract to another party or individual before the contract expires.
In the real estate market, there are also assignable contracts that permit the transfer of property.
An assignable contract is one that contains a clause allowing the contract's holder to assign, transfer, or otherwise dispose of the contract's obligations and rights to another party or individual before the contract's expiration date. The underlying asset would be available for delivery, and the assignee would be eligible to take advantage of all contract benefits prior to their expiration. However, any responsibilities or demands imposed by the contract must also be met by the assignee.Some options and futures contracts may have assignability. Additionally, real estate contracts that are assignable permit the transfer of property.Learn more about Contracts, here
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true or false: assuming implicit costs are positive, each of the firms operating in this industry in the long run earns positive accounting profit.
False, assuming implicit costs are positive, each of the firms operating in this industry, in the long run, earns positive accounting profit.
industry: a collective of profitable businesses or establishments that create or provide products, services, or sources of income. industry are typically categorized in economics as primary, secondary, tertiary, and quaternary; secondary industries are additionally categorized as heavy and light. Obtaining raw materials involves primary industries like mining, agriculture, and fishing. A profit is an income that is given to the owner in an efficient market production process in accounting. The owner's primary interest in the income-formation process of market production is profit, which is a measure of profitability. Different profit metrics are frequently employed. The equation Total Revenue - Total Expenses = Profit makes calculating profit simple.
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from the guest presenter, elizabeth oates, director of consumer insights at ulta: approximately what percent of adults in the usa belong to at least 1 loyalty program?
Loyalty/reward program describes the gifts, special offers, and other incentives that businesses give to their clients as part of a plan to keep them coming back for more of their goods or services.
When creating a successful loyalty/reward program, a business should take into account the following three factors:Exclusivity, since if everyone in the program receives the same perks, the client won’t see any value in the program, and they need to feel special to be a part of it.Customer knowledge: By understanding your audience, you can make sure that the program will speak to their wants and desires and be relevant to them.Contribution to the brand is necessary since you must ensure that your brand is supported by all of your activities.
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how could a government reduce inflationary pressures within an economy? select all that apply: increase taxes reduce taxes increase government spending reduce government spending
The correct answer is increase taxes and reduce government spending.
One strategy for managing inflation is to implement a contractionary monetary policy. By lowering the bond prices and raising interest rates, a contractionary policy aims to reduce the amount of money available in an economy. As a result of which the prices drop, inflation slows, and consumption declines.
If the government spends more, more economic activity results, which generates income that cascades through the economy in cycles of new spending and income.
If the government were to reduce expenditure, there would be no new revenue earned by the government, which would leave businesses and employees with less money to spend and cause a smaller economic impact.
People pay a larger percentage of their income in taxes if the government raises the income tax rate, which leaves them with less money to spend on goods and services.
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On january 1 providence, incorporated, issues $1,000,000 of 10 percent, 5-year bonds at par value. Complete the necessary journal entry by selecting the account names from the drop-down menus and entering the dollar amounts in the debit or credit columns.
The journal entry entering the dollar amount in debit or credit columns is
Date Particulars Debit Credit
01-Jan-19 Cash $10,00,000
Bonds Payable $10,00,000
The bond is issued for $1,000,000 and cash is received from that bond. Thus, a cash identifier is debited and a liability is created in this case. The accrued interest will be charged as interest expense at the end of the period.
Journal entry :A journal entry is the act of keeping or recording all economic or non-economic transactions. Transactions are listed in an accounting journal that shows the company's debit and credit balances. A journal entry can include multiple records, each of which is a debit or a credit. A journal entry is used to record a business transaction in a company's accounting records. A journal entry is usually recorded in the general ledger; alternatively, it can be recorded in a sub-ledger, which is then summarized and included in the general ledger
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