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According to Maslow's hierarchy of needs theory, when the most important need is satisfied, it will cease to be a motivator, and the person will then try to satisfy the next most important need.
Correcting Entry
An entry made in accounting records to correct a mistake made in a previous recording.
Subsidiary Ledger
A detailed ledger that contains the individual accounts related to a specific area, like accounts receivable or payable, which rolls up into the general ledger.
Compound Journal Entry
An accounting entry that involves more than two accounts, where there are multiple debits, multiple credits, or both.
Salvage Value
The appraisal of an asset’s market price at the exhaustion of its operational time.
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