Examlex
Which of the following ethical theories first identifies an ethical dilemma and then draws a comparison with other similar dilemmas and prior experiences to reach the best possible solution?
Time Period Principle
An accounting principle stating that financial reporting should be done in regular intervals to ensure relevance and reliability.
Contra Account
An account used in an accounting system to offset a related account, commonly used to record depreciation, allowances, and discounts.
Normal Balance
The side of an account, either debit or credit, where increases to the account are recorded.
Accrued Expense
Expenses that have been incurred but not yet paid or documented in the financial statements through an accounting process.
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