Examlex
FunText is a company that owns an app used for text messaging. It recently offered a six month membership extension to its existing customers without any additional charges. Which competitive strategy is FunText trying to implement in this scenario?
Posting
The process of transferring financial information from the journal to the respective accounts in the ledger, a crucial step in the accounting cycle.
Cash Account
A financial account that records cash transactions in and out.
Posting Reference
A code or number used in accounting to indicate the ledger account to which a transaction has been posted.
Journal Entry
A record in the books of accounts that documents a financial transaction, showing the accounts and amounts debited and credited.
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