Examlex
OB looks at three basic levels of inputs.The group level includes the following
General Journal
The primary accounting record used to record all types of transactions not assigned to other journals.
Equipment
Tangible property that is used in the operations of a business and has a useful life of more than one year.
Salaries
Payments made to employees for services rendered, typically on a monthly or biweekly basis, constituting an operating expense for companies.
General Journal
A fundamental accounting record where all transactions are initially recorded using debits and credits, before being transferred to specific accounts in the ledger.
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