Examlex
All of the following statements about social networking are accurate except
Revenue Account
An account that tracks the income a company generates from its business activities.
Compound Entry
An accounting entry that involves more than two accounts, recording multiple debits and/or credits in a single transaction.
Journal
A detailed record of all the financial transactions of a business, which are initially documented before summarizing in the ledger.
Posting
The process of transferring journal entry amounts to ledger accounts in accounting.
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