Instructions: Identify the Following Term(s)

question 11

Short Answer

Instructions: Identify the following term(s).
relics

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Definitions:

Slide Error

An accounting error resulting from moving decimal points improperly in figures, not due to mathematical mistakes.

Trial Balance

A trial balance is a bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the balance of a company's accounting system.

Prepaid Insurance

An expense paid in advance for insurance coverage, recorded as a current asset on the balance sheet until the coverage period elapses.

Posting Reference

A code or number used in ledger accounts that links journal entries to the specific accounts affected, facilitating traceability and audit processes.