Identify and State the Historical Significance of the Following

question 87

Short Answer

Identify and state the historical significance of the following:
-John Cabot

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Definitions:

Trial Balance

A trial balance is a bookkeeping report that lists the balances in each of an organization's general ledger accounts.

General Ledger

A complete record of all financial transactions over the life of a company, serving as the primary source for generating financial statements.

Entire Group

This term signifies the collective entirety of a set of items, individuals, or entities being considered as a whole.

Account

A record summarizing all transactions related to a particular item or person in financial accounting.