Business People Often Use "Hunches" and Intuition to Make Decisions

question 148

True/False

Business people often use "hunches" and intuition to make decisions regarding what to produce.

---

Definitions:

Subsidiary Ledger

A detailed ledger that contains the transaction details of accounts like accounts receivable or payable, which are summarized in the general ledger.

Controlling Account

A general ledger account that summarizes and controls the totals from various subsidiary accounts.

Subsidiary Ledger

A grouping of individual accounts that provide details to support a general ledger account.

Discount Period

The timeframe within which a buyer can pay less than the full invoice amount if payment is made early, typically to encourage prompt payment.