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Questions and Answers
True or false: The primary function of a ledger account is to summarize detailed transactions in a complicated form to hinder the preparation of F/S and reports.
True or false: The primary function of a ledger account is to summarize detailed transactions in a complicated form to hinder the preparation of F/S and reports.
False (B)
True or false: An account should contain multiple kinds of data to make it easier to classify transactions.
True or false: An account should contain multiple kinds of data to make it easier to classify transactions.
False (B)
True or false: The arrangement of accounts should not be considered when facilitating the preparation of reports.
True or false: The arrangement of accounts should not be considered when facilitating the preparation of reports.
False (B)
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