The methods and procedures for collecting, classifying, summarizing, and reporting a business's financial and operating information are called the accounting system.
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Q13: The principal ledger that contains all the
Q14: Accounting systems evolve through a three-step process:
Q15: Most accounting systems evolve as the business
Q16: The customers subsidiary ledger is controlled by
Q17: Transactions must first be recorded in the
Q19: An account for each supplier of merchandise
Q20: A control account is used to record
Q21: A cash refund paid to a customer
Q22: The customers ledger and the creditors ledger
Q23: Sales of office supplies for cash, at
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