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What is the difference between an account and a ledger

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Reference no: EM132656002

Questions -

Q1. What is the difference between an account and a ledger?

Q2. Do the terms debit and credit signify increase or decrease or can they signify either? Explain.

Q3. If the two totals of a trial balance are equal, does it mean that there are no errors in the accounting records? Explain.

Reference no: EM132656002

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