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According to the Text, What Is the Term Used for Development

question 2

Multiple Choice

According to the text, what is the term used for development that meets the needs of the present generation without compromising the ability of the future generation to meet its own needs?

Definitions:

Reversing Entries

Journal entries made at the beginning of an accounting period to negate or reverse certain adjusting entries made in the previous period for simplification.

Adjusting Entries

Adjusting entries are journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Unearned Rent

Income received for rent that has not yet been earned because the rental period has not taken place. It is recorded as a liability until the rent is earned.

Office Salaries Payable

This term refers to the obligation or amounts due to office employees for wages earned but not yet disbursed by the company.