Examlex
Discuss the three phases of economic development in Middle/South America.
Double-Entry System
An accounting method that records each transaction twice, once as a debit in one account and once as a credit in another, ensuring the accounting equation remains balanced.
Revenues
Revenue accrued from sales of goods or services that are fundamental to an organization's core operations.
Expenses
The outflow of money or other resources incurred in the process of generating revenue.
Account
A record used to keep track of and summarize financial transactions within a specific category, such as sales, expenses, or assets.
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