To Sort Records by Last Name Then by Payment Date

question 57

True/False

To sort records by last name then by payment date, the last name field must be the secondary sort field and the payment date must be the primary sort field.

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Definitions:

Accounting Equation

A fundamental principle of accounting stating that assets equal liabilities plus owners' equity, representing the balance sheet's structure.

Assets

Resources owned or controlled by a business, expected to produce benefits or economic value in the future.

Liabilities

The financial obligations of a business entity, including debts and other amounts owed to creditors.

Equity

The remaining stake in a company's assets once liabilities are subtracted, signifying the equity held by shareholders.