Because It Requires No Extra Effort for the Sender or Receiver

question 33

True/False

Because it requires no extra effort for the sender or receiver, a phone call is a more thoughtful way to convey a goodwill message than a written note.

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Definitions:

Journal

A detailed record where all financial transactions of a business are initially recorded before being transferred to the accounts in the general ledger.

Transaction Recording Process

The methodical process of recording financial transactions in the books of accounts to ensure accurate financial reporting.

Journal

A chronological record of all transactions made by a company, used as the primary source of information for the financial statements.

Ledger

A comprehensive collection of a company's accounts where transactions are recorded, typically categorized into assets, liabilities, equity, revenues, and expenses.