Distributed Ledgers Are Unique in That Records Are Not Communicated

question 74

True/False

Distributed ledgers are unique in that records are not communicated to other nodes via a central authority, but instead are constructed and held by every node in the network.

Understand the significance of balance of trade and measures to manage it.

Understand the basic principles of debits and credits in accounting transactions.

Comprehend the process and purpose of journalizing and posting transactions to ledger accounts.

Identify and apply the correct posting references in journal and ledger entries.

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Consulting Firm

A professional service organization that provides expert advice to businesses and organizations across a diverse range of industries and sectors.

Service Company

A business that provides intangible products or services to customers or clients, as opposed to selling physical goods.

Purchasing Cycle

A sequence of steps or procedures undertaken by a business to acquire goods or services from suppliers.

Merchandising Company

A business that purchases finished products and sells them to consumers without changing the physical form of the goods.