It Is Important to Keep in Mind That Reports Must

question 134

True/False

It is important to keep in mind that reports must be written to address what is of interest to the readers, not what is of interest to the person writing the report.

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Definitions:

Accounts Payable

A liability account on the balance sheet representing money owed by a company to its creditors or suppliers for purchases made on credit.

Credit Column

The section of an accounting record where increases in liabilities, revenues, and equity accounts are recorded.

Debit Column

The Debit Column is the left-hand side of an account record in double-entry bookkeeping, used to record increases in asset, expense, and loss accounts, and decreases in liability, equity, and revenue accounts.

General Journal

A primary accounting record used to document all financial transactions in chronological order.