Examlex
Which of the following statements is correct?
Subsidiary Ledger
A detailed ledger that contains all the transactions of a particular account, which then summarizes into a single general ledger account.
Accounts Receivable
Represents money owed to a business by its clients or customers for goods or services delivered but not yet paid for.
Financial Statement
A documented summary of financial transactions and standing for a company, person, or alternative entity.
Normal Balance
The usual balance side (debit or credit) on which an account increases.
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