Please Define the Following Key Terms

question 27

Short Answer

Please define the following key terms
-cod fishing

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Definitions:

Banking Transaction

An operation that involves the movement of money in or out of a bank account.

Make Deposit

The action of placing money into a bank account or financial institution.

Double-Entry Accounting

An accounting system that records each transaction with equal and opposite effects in at least two different accounts, ensuring accuracy.

Debits and Credits

The fundamental elements of accounting that represent the entries made in accounts to reflect increases or decreases in balances.