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A wage differential due to any factor violates the Equal Pay Act.
Cash Account
An account that records the amounts of cash available to a business at any given time.
Chart of Accounts
An organized list of all accounts used in the general ledger of an organization, serving as the foundation for its accounting system.
Transposition Error
A mistake made by reversing two digits when recording data, often leading to discrepancies in financial documentation.
Trial Balance
A financial worksheet that gathers the balances from all ledgers into columns for debits and credits, ensuring both totals match.
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