Examlex
Which statement below is FALSE?
Account Affected
The specific ledger account impacted by a financial transaction, indicating where changes in value are recorded.
Debit and Credit
Accounting terms used to record transactions in the accounts, where debits increase asset or expense accounts and decrease liability, equity, or revenue accounts, and credits do the opposite.
Operations
The day-to-day activities involved in running a business that lead to the production of goods and delivery of services.
Journalizing
Journalizing is the process of recording transactions in a company's journal prior to posting them to the general ledger.
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