The Development of Low-Cost Computing Platforms and Communication Technologies Is

question 68

True/False

The development of low-cost computing platforms and communication technologies is an economic change brought about by globalization enabled by information technology.

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Definitions:

Journalizing

The act of recording financial transactions in a company's journal, detailing the accounts that are affected and in which direction.

Posting Process

The act of recording financial transactions in the appropriate accounts within the general ledger.

Debit or Credit Posting

The act of recording an entry on the left (debit) or right (credit) side of a financial account in the accounting ledger.

Trial Balance

An organized accounting sheet where the sum of all ledger balances is equally distributed between debit and credit columns.