Practices of Feudalism. 1  Fiefâholding. 2  A fief is a hereditary position with land and peasants. 3  In order to keep a fief, a lord had to be able to protect his land.  A lord could give one of his vassals a 1  fief. Primogeniture.  The land went to the eldest 1  son. Relief.  Taxes paid by vassals to their lord.
General Ledger. Definition: A general ledger is the master set of accounts that summarize all transactions occurring within an entity. There may be a subsidiary set of ledgers that summarize into the general ledger.
The balance of a customer account as shown on the bank statement. The ledger balance is found by subtracting the total number of debits from the total number of credits for a given accounting period.The ledger balance is used solely in the reconciliation of book balances.Next Up.he balance of a customer account as shown on the bank statement. The ledger balance is found by subtracting the total number of debits from the total number of credits for a given accounting period. The ledger balance is used solely in the reconciliation of book balances. Next Up.