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According to the Connecting with Small Business Box,small Loans Do

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True/False

According to the Connecting with Small Business box,small loans do not provide assistance to entrepreneurs in developing nations.


Definitions:

General Ledger

The primary accounting record of a company that uses double-entry bookkeeping, containing all the financial accounts and transactions of a business.

Accounts

Records summarizing all transactions related to a particular item over a period.

Posting

The process of transferring entries from the journal to the respective accounts in the ledger.

Journal Entries

Records in accounting that document every transaction affecting a company's financial position, detailing debits and credits to accounts.

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