The Proper Use and Control of Credit Is the Best

question 63

True/False

The proper use and control of credit is the best way to build a good credit history.

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Definitions:

General Journal

A primary accounting record used to document all business transactions in chronological order.

Error In Billing

Mistakes or inaccuracies in the amount charged on an invoice or billing statement.

Services Rendered

The provision of services to a customer or client, which can be invoiced once the service has been completed.

Subsidiary Ledger

A detailed ledger that contains all the transaction details of a specific account, which rolls up into the general ledger.