The Great Depression Was Global, Affecting Almost Every Country in the World

question 98

True/False

The Great Depression was global, affecting almost every country in the world.

---

Definitions:

General Ledger

The primary accounting record of a company that uses double-entry bookkeeping, containing all the financial accounts and transactions of a business.

Accounts

Records summarizing all transactions related to a particular item over a period.

Posting

The process of transferring entries from the journal to the respective accounts in the ledger.

Journal Entries

Records in accounting that document every transaction affecting a company's financial position, detailing debits and credits to accounts.