Windows Live SkyDrive Is a Free Online File Storage Area

question 7

True/False

Windows Live SkyDrive is a free online file storage area that provides you with up to 25 GB of password protected storage space.

---

Definitions:

Sales Journal

A specialized accounting journal that records all credit sales transactions of a business.

Subsidiary Ledger

A detailed ledger used to track individual transactions related to a specific account, complementing the general ledger.

General Ledger

The primary accounting record of all financial transactions of a company, organized by accounts, used to prepare financial statements.

Owner Withdraws

Transactions where the owner of a sole proprietorship takes out cash or other assets from the business for personal use.