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Proper Journal Form Is a Way of Recording a Transaction

question 49

True/False

Proper journal form is a way of recording a transaction with the date,debit account,and debit amount shown on one line,and the credit account (indented)and credit amount shown on the next line.


Definitions:

Accepted

Accepted in legal and commercial contexts refers to the express or implied agreement to the terms of an offer, thereby creating a binding contract.

Instantaneous Forms

Documents or agreements that become effective immediately upon execution or fulfillment of certain conditions.

Mirror Image Rule

A principle in contract law that requires the acceptance of a contract offer to be identical to the offer for a legally binding agreement to be formed.

Material Difference

A substantial and significant variation or discrepancy that affects the value or function of an item or agreement.

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