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Regarding the double standard, which of the following statements is FALSE?
Prepaid Insurance
Expenses paid in advance for insurance coverages that extend beyond the current accounting period.
Posting References
Codes or numbers used to track the transfer of information from journals to ledgers in the accounting process.
Cash
A form of currency that companies and individuals use for transactions or to settle debts.
Journal Entry
is a record in accounting that notes the details of a financial transaction, including the accounts affected, debits, and credits.
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