In 1883,a Volcanic Eruption on the Indonesian Island of Krakatau

question 35

Essay

In 1883,a volcanic eruption on the Indonesian island of Krakatau eradicated most life from the island.Over the following years,plants and animals arrived from nearby landmasses to recolonize the island.The process that enables recolonization of devastated island communities such as Krakatau is called _______.

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Definitions:

Adjusting Entries

Journal entries made in accounting at the end of a reporting period to allocate income and expenditures to the period in which they actually occurred.

Periodic Inventory

A periodic inventory system is an accounting method where inventory levels and cost of goods sold are updated in the ledger at the end of an accounting period, rather than tracking each sale or purchase individually.

Perpetual Inventory

A method used in inventory accounting that immediately notes the sale or acquisition of inventory through computerized point-of-sale systems and enterprise asset management software.

Inventory Accounting Systems

Methods used by companies to keep track of their inventory levels, costs, and value, including systems like FIFO, LIFO, and weighted average.