What Is the Difference in the Balance Forward and the Open

question 30

Essay

What is the difference in the balance forward and the open item methods of accounting for customer accounts?

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Definitions:

Cooperative

Involving mutual assistance in working toward a common goal, characterized by teamwork and collaboration.

Diplomatic

Having or showing an ability to deal with people in a sensitive and effective way.

Objective

An unbiased, unemotional statement or goal based on facts rather than feelings or opinions.

Peak Performer

An individual who consistently operates at their highest level of skill and performance in their respective field or endeavor.