Examlex
What percentage of the most dangerous problems that led to recalls of children's products were never voluntarily reported to the government?
Debit
A transaction recorded in accounting that leads to a rise in a company's assets or a reduction in its liabilities on the balance sheet.
Credit
An accounting entry that increases liabilities or equity, or decreases an asset or expense account, on a company's balance sheet.
Posting Reference
An identifier used in journals and ledgers to link transactions, facilitating tracking and cross-referencing between the two records.
Two-Column Journal
A financial journal that has a simple format with only a debit and a credit column for recording transactions.
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