Explain the Difference Between a Ledger and a Chart of Accounts

question 199

Essay

Explain the difference between a ledger and a chart of accounts.

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Definitions:

Objective

A specific goal or target that is defined and measurable.

Subjective

Pertaining to or depending on the individual's perceptions, feelings, or opinions.

Standard

An established level of quality or attainment used as a measure, norm, or model in comparative evaluations.

Anticipatory Repudiation

Occurs when one party to a contract indicates, before the performance is due, that they will not fulfill their contractual obligations.