Negotiating Business Contracts with an Out-Of-State Individual Via Text Messaging

question 50

True/False

Negotiating business contracts with an out-of-state individual via text messaging is insufficient to provide a court with personal jurisdiction over that individual.

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Definitions:

Posting

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

Equality

The balance between the total debits and total credits in an account, ensuring that all financial transactions are properly recorded.

Debits And Credits

The two fundamental aspects of every financial transaction in double-entry bookkeeping, where debits must equal credits.

Trial Balance

A trial balance is a bookkeeping report showing the balances of all ledgers accounts to ensure that debits equal credits.