Examlex
Which of the statements below is incorrect?
General Journal
A comprehensive ledger that records all the day-to-day financial transactions of a business.
Accounts Payable
Liabilities of a business that represent amounts owed to creditors for goods and services purchased on credit.
Accounting Information System
A system designed to collect, store, and process financial and accounting data, and produce informational reports for decision making.
Cost Effectiveness
Evaluation of how efficiently resources are used to achieve a goal, usually expressed in cost per unit of outcome.
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