Describe the Circumstances in Which Post Tests Are Used and Explain

question 33

Essay

Describe the circumstances in which post tests are used and explain why these tests are necessary.

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Definitions:

Debit

An accounting entry that represents either an increase in assets or expenses or a decrease in liabilities, equity, or revenue.

Capital Balances

The amount of money that partners or owners have invested in the business.

Profits and Losses

Financial results of a company's operations, with profits indicating net income and losses indicating net expenses exceeding revenues.

Admitted

The term is commonly used in insurance, indicating an insurer is licensed to operate in a particular state. Otherwise, NO.