Quadrant II Actions Are IMPORTANT and ____________________

question 1

Short Answer

Quadrant II actions are IMPORTANT and ____________________.

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Definitions:

Debits

In accounting, entries that increase asset or expense accounts, or decrease liability, equity, or revenue accounts.

Assets

Assets are possessions or properties held by a company, anticipated to yield economic advantages in the future.

Credits

An accounting entry that increases liabilities and equity or decreases an asset or expense account in double-entry bookkeeping.

Insurance Expense

The cost incurred by a business for insurance coverage, recognized as an expense over the policy period.