Examlex
When a journal entry contains an error and the error is detected after posting, the entry can be corrected.
Short Run
A timeframe in which a company has at least one input that remains constant and is unable to be altered.
Short-Run Equilibrium
A state in economics where demand equals supply, resulting in market stability over a temporary period.
Long-Run Aggregate-Supply Curve
Illustrates the total production of goods and services in an economy at different price levels when input prices fully adjust to changes in the price level.
Expansion
The increase in the scale of production or operation by a company, often involving larger facilities, workforce, and entering new markets.
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