Examlex
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Accrual Accounting
An accounting method that records revenues and expenses when they are incurred, regardless of when cash is exchanged.
Recording Expenses
The process of documenting and categorizing expenditures in the financial records of an organization.
Current-Period Income
The net income earned by a business during the most recent accounting period.
Accrual Accounting
An accounting method where transactions are recorded when they are earned or incurred, not necessarily when cash changes hands, providing a more accurate financial picture.
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