Examlex
What is the difference between the two types of virtual circuits?
General Ledger
A comprehensive record of all financial transactions over the life of a company, used to compile financial statements.
Cash Receipts
The accumulation of funds, usually through cash or checks, garnered by a company from its operational activities.
Accounts Payable
The amount of money a company owes to its suppliers or creditors for goods or services purchased on credit.
Subsidiary Posting
The process of transferring entries from the journal to the individual ledger accounts, often for the purpose of detailed accounting and tracking.
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