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Under settlement date accounting, a transaction is recorded in the general ledger when it is "fulfilled" or "settled." This is contrasted with trade date accounting, where transactions are recorded in the general ledger at the initiation date rather than at completion.

Settlements can be classified on basis of residence and main occupation into rural and urban. Settlements may also be classified on bases of their shape, pattern types into Compact or Nucleated settlements and Dispersed settlements.

Is an account settlement for asset or liability accounts? You can settle both asset and liability accounts. When an individual or company owes your business, the account is an account receivable (i.e., an asset account).

Settlement Types There are generally three types of settlements: compact, semi-compact, and dispersed. Each is based on its population density. Compact settlements have the highest density of population.

There are 5 types of settlement classified ing to their pattern, these are, isolated, dispersed, nucleated, and linear. An isolated settlement consists of a single farm or house very remote from any other one, usually found in farming or hunting rural communities.

The four main types of settlements are urban, rural, compact, and dispersed. Urban settlements are densely populated and are mostly non-agricultural. They are known as cities or metropolises and are the most populated type of settlement.