Building Long-Term Equity Requires Large,continuous Reinvestment in People,products,and Services in Advance

question 32

True/False

Building long-term equity requires large,continuous reinvestment in people,products,and services in advance of revenues.

---

Definitions:

Subsidiary Ledger

A group of accounts that provide detail for accounts in the general ledger that summarize large numbers of transactions.

General Ledger Account

An individual account within the general ledger that records transactions related to a specific asset, liability, equity, revenue, or expense.

Accounts Payable

Short-term financial obligations or debts a company owes to its suppliers or creditors for goods and services received.

General Journal

A primary accounting record used to record all types of transactions before they are posted to individual accounts in the general ledger.