A Collection of Uniform Legal Principles Focused on a Particular

question 39

Short Answer

A collection of uniform legal principles focused on a particular area of traditional state law is called The _______ of the Law.

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Definitions:

Accounts Payable

Accounts payable represent short-term liabilities or money owed by a business to its creditors or suppliers for goods and services purchased on credit.

Journal Entry

A record of a financial transaction in the accounting books of a business, showing the accounts affected and the amounts.

Invoice

A document issued by a seller to a buyer that lists goods or services provided, prices, and payment terms.

Ledger

A comprehensive collection of a company's financial transactions, organized by account.