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Which of the following steps is necessary to ensure that a master schedule is valid?
Note Payable
An official pledge in writing to return a specified sum of cash, often with added interest, on a set future date.
Ledger
A book or digital record where financial transactions are entered, tracking the changes in each account associated with those transactions.
Trial Balance
An accounting report that lists the balances of all general ledger accounts at a particular point in time, used to ensure debits equal credits.
Debt Ratio
A financial ratio that measures the extent of a company's leverage, calculated as total liabilities divided by total assets.
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