Aggregation Is the Act of Clustering Several Similar Products or Services

question 66

True/False

Aggregation is the act of clustering several similar products or services.

---

Definitions:

Balance Sheet

An official record presenting the total assets, liabilities, and net worth of shareholders of a firm at a fixed point in time.

Adjusting Journal Entry

Entries made in accounting records to update the balances of accounts before producing financial statements, ensuring they adhere to the accrual basis of accounting.

Salaries

Compensation given to employees for their labor or services, typically paid on a monthly or biweekly basis.

Five-day Week

A common work schedule that consists of five working days, usually Monday through Friday, followed by a two-day weekend.