Examlex
Match each of the following selection methods with its related characteristic.(Answers may occur more than once.)
-Narrow/nonstrategic focus
Debited
An accounting term indicating that an amount has been recorded on the left side of a ledger or account, increasing assets or decreasing liabilities and equity.
Rent Expense
An expense account that records the cost incurred by a business to rent a property or equipment for its operations.
Fees Earned
Income earned from providing services or performing work for clients or customers.
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances from temporary accounts to permanent accounts, thereby preparing the accounts for the next accounting period.
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