Examlex
The slow tipping of the Earth's axis in a circle with a period of about 26,000 years is called:
Credits
Refers to the accounting entries that increase liabilities or decrease assets, representing the opposite effect of debits in double-entry bookkeeping.
Liability Accounts
Accounts on a balance sheet that represent obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits including money, goods, or services.
Stockholders' Equity Accounts
These accounts represent the owners' residual interest in the corporation's assets after deducting liabilities.
Credit Balances
Accounts within the accounting ledger that have a positive balance, indicating amounts owed to others.
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