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Thomas has been working for the past six months at TUV Technologies, and during that time he has compiled an impressively long list of names, addresses, phone numbers, and products purchased by customers. How should he store this information in order to access and search through it quickly and efficiently?
Expense Account
An account used to record expenses incurred by a business, which are then used to reduce income on the profit and loss statement.
Understated
Understated means that a financial amount has been reported or recorded as less than its actual or true value.
Posting
The process of recording financial transactions in the accounting ledger from the journal.
Ledger
A comprehensive collection of a company's financial accounts, providing a record of all financial transactions.
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