One of the Best Ways to Test Yourself Is to Close

question 31

True/False

One of the best ways to test yourself is to close the book after you are reading and write down all you remember about what you read.Then go back and fill in the missing details.

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Definitions:

Ledger

A book or computer file with separate sections for each account.

Accounting Transactions

Financial activities that affect the accounting equation, documented through the exchange or transfer of economic value.

Public Company Accounting Oversight Board

An independent oversight body established by Congress to regulate the audits of public companies in order to protect the interests of investors and further the public interest in the preparation of informative, accurate, and independent audit reports.