EXCHANGE RATE EFFECTS Definition

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EXCHANGE RATE EFFECTS is the effect on any given currency as the rate of exchange changes providing either a gain or loss in value against other currencies.

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BAY, in business / accounting, means Buy Another Yearly.

SUBLEDGER is for the purpose of organizing revenue and expense transaction for only one account, e.g., For an individual salesperson, like a general ledger, the subledger has different default account types, each from a salespersons perspective, not a company perspective. Thus, Due is due to the salesperson and Payable is payable by the salesperson.

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