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Evan has a job interview in a different city.The airport in his city is far from his place.Despite being aware of the heavy traffic in his city,he starts late for the airport as he is convinced he can reach on time.However,he misses his flight and is unable to attend the interview.In the context of social thinking,this scenario illustrates:
Cash Equivalents
Short-term, highly liquid investments that are readily convertible to known amounts of cash and are subject to an insignificant risk of changes in value.
Bank Reconciliation
The process of matching the balances in an entity's accounting records for a cash account to the corresponding information on a bank statement.
Non-current Liability
A Non-current Liability is a financial obligation that a company does not expect to settle within the next twelve months from the reporting date.
Credit Balance
A situation where the total credits in an account exceed the total debits; it's common in liability, revenue, and equity accounts.
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