Examlex
The saccule in the ear allows you to detect change in movement of your head due to a fluid called endolymph inside of the semicircular canals that surrounds sensory receptors and will resist the motion of your head. Now imagine that you are in an elevator going up to the 10th floor. You initially get on to the elevator, and feel a change as you begin to move upwards but then stop noticing the movement. When you get to the 10th floor you feel another change as the elevator comes to a stop. What is the most plausible explanation of what you felt, in the respective order?
Account Changes
Adjustments made to accounts to update or correct their balances, which might include error corrections, adjustments, or updates.
Expanded Accounting Equation
Assets = Liabilities + Capital – Withdrawals + Revenue – Expenses.
Owner's Equity
The residual interest in the assets of an entity after deducting liabilities, representing the ownership interest of the owners.
Ledger
A comprehensive collection of a company's accounts, where transactions are recorded in detail.
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