Examlex
How has the chemical composition of the Sun changed in the last 4.5 billion years? How will this affect its future?
Matching Principle
An accounting principle that states expenses should be recognized in the same period as the revenue they helped generate.
Recorded
The act of entering financial transactions or information into accounting records.
Adjusting Entries
Entries made in the accounting records at the end of an accounting period to allocate incomes and expenses to the period in which they actually occurred.
Expense Accounts
Accounts used to record the consumption of economic benefits during the operational activities of a business.
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