A(n) ________ Fault Results from Tensional Forces and the Upthrown

question 124

Short Answer

A(n) ________ fault results from tensional forces and the upthrown and downthrown sides are separated by a steep fault scarp.

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Definitions:

Post-Closing Trial Balance

A list of all the account balances of a business after closing entries for the accounting period have been made, ensuring the accounts are ready for the next period.

Financial Statements

Comprehensive reports created to communicate the financial performance, position, and cash flows of a business to external and internal stakeholders.

Adjusting Entries

Accounting records entries recorded at the conclusion of an accounting cycle to apportion revenues and expenditures to the time period they truly took place.

Adjusted Trial Balance

A financial statement listing all accounts and their balances after adjusting entries have been made, ensuring the total debits equal total credits.