Object-Oriented Databases Are Used to Archive Older Data That Management

question 37

True/False

Object-oriented databases are used to archive older data that management no longer needs to process.

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Definitions:

General Ledger

The master accounting document that contains all the financial accounts and transactions of a company.

Unadjusted Trial Balance

A preliminary list of all accounts and their balances before any adjustments are made, used to check the accuracy of debits and credits in accounting records.

Accounting Cycle

The sequence of processes beginning with the recording of a transaction and ending with the posting to the financial statements, completed in each accounting period.

End-of-period Spreadsheet

A financial document used to summarize account balances and adjustments at the end of an accounting period, facilitating the preparation of financial statements.