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Affect Can Be Positive or Negative and Relate to Any

question 26

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Affect can be positive or negative and relate to any kind of subjective evaluation of an object.


Definitions:

Posting

The process of transferring journal entry information to the ledger, ensuring every debit and credit transaction is recorded in the correct accounts.

Transposition Error

A mistake that occurs when two digits within a number are inadvertently reversed during data entry or recording.

Journal Entry

A record of a financial transaction in the accounting books.

Trial Balance

A bookkeeping worksheet where the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of the financial transactions recorded.

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