One Example of a Data Aggregation Is to Gather Information

question 40

True/False

One example of a data aggregation is to gather information about particular groups based on specific variables such as age, profession, or income.

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Definitions:

Debit Side

refers to the left-hand side of a ledger account that records increases in assets, expenses, and decreases in liabilities and equity.

Credit Side

The right side of an account in double-entry bookkeeping, typically used to record increases in liabilities, revenue, or equity.

Basic Accounting Equation

The foundational accounting principle stating that Assets = Liabilities + Equity.

General Journal

An initial record where all transactions are first entered, providing a chronological order of all financial transactions made by a business.