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Match the Terms with Their Correct Meanings

question 53

Multiple Choice

Match the terms with their correct meanings.

-Defective curvature of the cornea or lens of the eye


Definitions:

Accounts Payable

The amount of money a company owes to its creditors for goods or services purchased on credit.

Subsidiary Ledgers

Detailed ledgers that contain information about specific accounts, which then are summarized in a single control account in the general ledger.

General Ledger

A master accounting document providing a complete record of all the financial transactions of a business.

Subsidiary Posting

The process of transferring summary totals from the journal into the respective ledger accounts.

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