A Ledger Is Sometimes Referred to as a Record of Original

question 57

True/False

A ledger is sometimes referred to as a record of original entry.

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Definitions:

Legal Position

The stance or argument taken on a legal issue, often based on laws, precedents, and principles.

Partnership

A legal form of business operation between two or more individuals who share management and profits.

Partner

An individual who shares ownership of a business or an endeavor with one or more persons, often sharing in profits and responsibilities.

Profitability

The degree to which a business or activity yields financial profit or gain, often measured as a ratio of net income to revenue.