Explain the Difference Between a Ledger and a Chart of Accounts

question 199

Essay

Explain the difference between a ledger and a chart of accounts.

---

Definitions:

Recall

The ability of the brain to retrieve and access information and memories previously stored.

Cognitive Architecture

The underlying structure and systems of the mind that support cognitive processes, including memory, perception, and problem-solving.

Long-term Memory

The storage of information in the brain that can be recalled days, months, or even years after it was originally learned; contrasts with short-term memory.

Sensory Memory

Sensory memory refers to the shortest-term element of memory, capable of briefly holding sensory information, such as sights and sounds, before it either decays or is transferred to short-term memory.