Normally, a Contract Will Be Set Aside Because Certain Pertinent

question 38

True/False

Normally, a contract will be set aside because certain pertinent information was not volunteered.​

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Definitions:

General Ledger

A master accounting document providing a complete record of all the financial transactions of a business.

Subsidiary Posting

The process of transferring summary totals from the journal into the respective ledger accounts.

General Ledger

A comprehensive log of every financial transaction throughout a company's existence.

Cash Payments

Monetary transactions in which money is paid out by a business to settle obligations, including expenses, debts, or purchase of assets.