A Subsidiary Ledger Is a Record of Accounts That Provides

question 106

True/False

A subsidiary ledger is a record of accounts that provides supporting details on individual balances,the total of which appears in a general ledger account.

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Definitions:

Law of Averages

The law of averages is a principle that suggests that over time, outcomes will balance out to their statistical probability or expected value.

Cold Canvassing

The act of contacting potential customers without any prior connection or appointment, often through door-to-door visits or cold calls, in attempts to sell a product or service.

Prospecting Method

Strategies and techniques used by salespeople to identify potential customers or leads who may have an interest in their products or services.

Orphaned Customers

Customers who feel neglected or forgotten by a brand, often after a key salesperson leaves the company.