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Define Balance of Trade and Balance of Payments.What is the different between these two terms? Why are they important measures?
Subsidiary Ledgers
Detailed records that support summary-level data contained in the general ledger, such as accounts receivable and accounts payable ledgers.
General Ledger
A complete record of all financial transactions over the life of a company.
Computerized Accounting Systems
Systems that use software to record, store, and process financial transactions and data, improving efficiency and accuracy in accounting.
Business Segments
Distinct parts of a company that deal with different types of products or services, often reported separately in financial statements.
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