Examlex
Solve.
-The sum of the squares of two numbers is 89. The sum of the two numbers is -13. Find the two numbers.
Cash Basis
An accounting method where revenue is recorded when cash is received, and expenses are recorded when cash is paid out.
Adjusting Entries
Journal entries made at the end of an accounting period to update account balances for accruals and deferrals that are not recorded through regular transactions.
Accruals
Accruals are accounting adjustments for revenues and expenses that have been earned or incurred but not yet recorded in accounts due to the timing of cash flows.
Prepayments
Payments made in advance for goods or services, recorded as assets on the balance sheet until the actual goods or services are received.
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