Examlex
What is meant by "Fund Balance―Nonspendable" and for what reasons is this classification needed?
Fixed Compensatory
Relates to a form of compensation or damages that are predetermined and not subject to change.
Memorandum Entry
This refers to a journal entry made in the financial records to note a significant event or transaction that doesn’t involve a direct exchange of cash or value and hence does not affect the financial statements directly.
Stock Option Plan
A compensation strategy that allows employees to purchase company stock at a predetermined price.
Liability Account
An account used in accounting to keep track of obligations or debts that a company owes to others, representing claims against the company's assets by external parties.
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