Examlex
What is the purpose of Treasury Regulations?
Accruals
Accounting practices that record revenues and expenses when they are incurred, regardless of when cash is exchanged.
Depreciation
An expense recorded to reduce the book value of an asset due to its usage and wear and tear over time, reflecting its decreasing value.
Accounts Receivable
Money that clients are required to pay to a company for goods or services received but for which payment has not yet been made.
Operating Section
A component of the income statement where the primary revenues and expenses of a company's core business activities are detailed.
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