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Why Is an Understanding of Space-Time Systematics a Crucial First

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Why is an understanding of space-time systematics a crucial first step in understanding why people did what they did in the past?


Definitions:

Adjustments

Records documented in the financial accounts at the end of a fiscal period to distribute revenues and expenses to the timeframe in which they were truly incurred.

Asset

An economic resource owned or controlled by a company that is expected to provide future benefits.

Liability Account

An accounting record that tracks obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits.

Accrual Basis

A bookkeeping approach that recognizes income and expenses at the time they are accrued, rather than when the actual cash transaction occurs.

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