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the relative value of a transaction. Auditors decide on a certain amount for transactions for an audit: amounts smaller than this amount are ignored, in other words they are considered immaterial.
error in adding or posting compensated for by another error that equals the amount of the first...
account that offsets another account: debit the one and credit the other.
method for recording transactions in the books of a business: for every debit entry there is a...
subsidiary ledger in which the business records the details of the account of each creditor....