An Account Is an Important Accounting Record Where Financial Information

question 116

Essay

An account is an important accounting record where financial information is stored until needed. Briefly explain (1) the nature of an account (2) the different types of accounts and (3) the manner in which an account is increased and decreased and its normal balance.

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Definitions:

Parietal Lobes

Lobes at the top of the brain’s cerebral cortex; they contain areas that receive information on pressure, pain, touch, and temperature as well as handle attention and awareness of spatial relationships.

Pressure

The force applied perpendicular to the surface of an object per unit area over which that force is distributed.

Cortex

The outer layer of the cerebrum, involved in numerous high-level brain functions such as thought, memory, and consciousness.

Millimeters

A unit of length in the metric system, equal to one thousandth of a meter.