Mitigation Is Used Frequently, but Not Always Effectively

question 22

True/False

Mitigation is used frequently, but not always effectively.

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Definitions:

Post Reference Column

A column in journal and ledger accounts that helps in cross-referencing entries between these two accounting records.

General Journal

A comprehensive record of financial transactions over the life of a company, listed in chronological order.

Assets

Resources owned by a company or individual that have economic value and can provide future benefits.

Debits

Accounting entries that increase assets or expenses and decrease liabilities, equity, or revenue.