Examlex
When are certain discriminatory employment qualifications permitted by law?
Annual Depreciation
The amount of depreciation expense allocated for a fixed asset in one year, based on the asset's useful life and cost.
Prepaid Expense
An asset account that represents costs paid in advance for expenses that will be incurred within a future accounting period.
Accrued Expense
Expenses that have been incurred but not yet paid or recorded in the ledgers.
Accrual Basis Accounting
An accounting method where revenue and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.
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