Examlex
Those persons legally responsible for the execution of management of a corporation are
Credit Side
The right side of an accounting ledger where increases in liabilities, equity, and revenue accounts are recorded.
Debit Side
The left side of a ledger account that records increases in assets and expenses or decreases in liabilities and equity.
Journalizing
A process in accounting that involves recording transactions in a journal before they are transferred to a ledger.
Posting Process
The act of transferring entries from a company's journal to the appropriate accounts in the general ledger.
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