Talk About: -Test Act

question 107

Short Answer

Talk about:
-Test Act

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Definitions:

Increase Side

In accounting, it refers to the side of a ledger account (debit or credit) where increases are recorded, depending on the nature of the account.

Decrease Side

The side of an account that is used to record decreases in value, typically the left side for assets and expense accounts, and the right side for liability, equity, and revenue accounts.

Title

A legal term referring to a person's formal right or ownership of an object, real estate, or intellectual property.

Cash Payments

Outflows of cash by an entity, typically for expenses, goods purchased, or services rendered.