One of the Most Overlooked Sources of Secondary Data Is

question 100

True/False

One of the most overlooked sources of secondary data is the organization's own accounting records.

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Definitions:

T Account

The simplest form of an account, which consists of an account title, a debit side, and a credit side.

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account. It is positioned on the left side in accounting records.

Credit

Credit refers to the trust which allows one party to provide resources (money, goods, services) to another party wherein the second party does not reimburse the first party immediately but promises to return or repay those resources (with or without interest) at a later date.

Cash Account

An account that records all transactions involving the exchange of cash.