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Jamie,a boy scout,has practiced tying a particular kind of knot dozens of times,and he does it quickly and efficiently.But when he tries to explain how to do it to a younger member of his troop,he can't put it into words,he can only show the other boy how to do it.Jamie's knowledge of knot tying is an example of
Posting Reference
A code or number used in accounting to indicate the ledger account to which a transaction has been posted.
Journal Entry
A record in the books of accounts that documents a financial transaction, showing the accounts and amounts debited and credited.
Prepaid Insurance
An asset account that represents payments made in advance for insurance coverage, which has not yet expired.
Normal Balances
The typical sides (debit or credit) where increases to accounts are recorded in double-entry bookkeeping.
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