Getting the Members of a Supply Chain to Collaborate and Work

question 61

True/False

Getting the members of a supply chain to collaborate and work together is called supply chain integration.

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Definitions:

Ledger

A comprehensive collection of accounts where financial transactions are recorded, categorized, and summarized; an essential part of the accounting system.

Accounting Information System

A system used by businesses to collect, store, manage, process, retrieve, and report financial data for the purpose of informed decision-making.

General Ledger

A complete record of all financial transactions over the life of a company, used to compile financial statements.

General Journal

A basic accounting ledger that records each financial transaction of a business in chronological order.