Question: 1. What is the difference between an account and a ledger? 2. Do the terms debit and credit signify increase or decrease or can they

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

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

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

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