Please Define the Following Key Terms

question 65

Essay

Please define the following key terms. Show Who? What? Where? When? Why Important?
-Freud

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Definitions:

Book Value

The net value of a company's assets minus its liabilities and preferred stock, often used to determine the potential value of a company if it were to be liquidated.

Carrying Value

The book value of an asset or liability on a company's balance sheet, calculated as the original cost minus depreciation or amortization.

Unearned Ticket Revenue

Revenue received from ticket sales before the event or service has been provided; also considered a liability until earned.

Adjusting Journal Entry

An accounting record posted at the conclusion of a fiscal period with the purpose of assigning revenues and expenses to their correct time frame.