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Posting Is the Process of Proving the Equality of Debits

question 191

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Posting is the process of proving the equality of debits and credits in the trial balance.


Definitions:

Clearinghouse

An intermediary entity between buyers and sellers in financial markets that ensures the orderly settlement of trades.

Offset

To counterbalance, compensate, or neutralize the effect of something by applying an opposing force or effect.

Futures Contract

A legally binding contract to acquire or dispose of a specific item at an agreed-upon price at a future date.

Contract Size

Refers to the deliverable quantity of commodities or financial instruments like futures and options contracts specified in the contract terms.

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