Examlex
What is the most significant element of an Australian Aboriginal boy's puberty rites?
Transaction Posted
The act of recording a financial transaction in the accounting records of a company.
Debit
A ledger entry contributing to the growth of assets or lessening of liabilities in a company's financial statement.
Credit
The provision of resources (such as money) by one party to another party where the second party does not reimburse the first party immediately, but promises either to repay or return those resources at a later date.
Transposition Error
A common accounting mistake where numbers are mistakenly reordered, leading to inaccurate data entry.
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