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Accounting Chap 4
Vocab
Term | Definition |
---|---|
Ledger | A group of accounts |
General Ledger | A ledger that contains all accounts needed to prepare financial statements. |
File Maintenance | The procedure for arranging accounts in a general ledger, assigning account numbers, and keeping records current. |
Opening an Account | Writing an account title and number on the heading of an account. |
Posting | Transferring information from a journal entry to a ledger account. |