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The process of ethnology allows anthropologists to explain why certain similarities and differences exist among various culture groups. Using your own life, possible travels abroad, or interactions with other cultures, what are some similarities and differences between your culture and another? What is the importance of finding similarities between different culture groups?
Liabilities
Economic obligations or debts that a business owes to external parties, which must be settled over time through the transfer of economic benefits.
Accrual Basis Accounting
A method of accounting that records revenues when earned and expenses when incurred, regardless of when cash is exchanged.
Revenues
The income generated from normal business operations and includes discounts and deductions for returned merchandise.
Normal Balance Side
Normal Balance Side is the side (debit or credit) of an accounting ledger on which increases to the account are recorded, depending on the account type.
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