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Chap 7

QuestionAnswer
Proving the Ledger Fifth step in the accounting cycle.
Trial Balance Statement of all debits and credits in a double entry account book with any disagreement indicating an error.
Slide Error A miscalculation caused by moving the decimal point of number to the left or right of its correct position.
Transposition Error A simple error in a data entry
Correcting Entry A journal entry whose purpose is to rectify the effect of an incorrect entry previously made.
Created by: 18821
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