A General Ledger Is an Accounting Journal Designed to Record

question 11

True/False

A general ledger is an accounting journal designed to record one specific type of transaction.

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Definitions:

Good Faith

A principle that denotes sincerity, honesty, and fairness in transactions without the intention of deception.

Key Element

A fundamental component or aspect that is necessary for the functionality or efficacy of a system, document, or process.

Unanimous Consent

Agreement on a matter by all members of a group, committee, or assembly without any opposition.

Manage the Business

The process of overseeing and making decisions about the operations, finances, and strategy of a business to ensure its success and sustainability.