Examlex
Matching
Match each of the following scenarios with the type of conflict it most clearly illustrates.
-structural conflict
Asset Account
An account on a balance sheet that represents a resource with economic value owned or controlled by an individual or business.
Liability Account
An account noted on the balance sheet that represents debts or obligations that a company owes to others and must settle over time.
Posting Reference Column
A ledger column used to indicate the account number or code that corresponds to each entry, facilitating cross-referencing between ledgers.
Journal
A book or digital record where transactions are initially recorded before they are posted to ledgers.
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