Examlex
The testing of a person to rule out or confirm a suspected diagnosis because the patient has some sign or symptom is a screening.
Accounting Period
A specific time frame in which financial transactions are recorded and financial statements are prepared, typically a year or a quarter.
Prepayment
Payments made in advance for goods or services, recorded as an asset until the corresponding goods or services are received.
Adjusting Entry
An accounting record made to update the book value of an asset or to correct or allocate income and expenses to the appropriate period.
Prepaid Asset
Expenses paid in advance for future benefits, such as insurance or rent, recognized as assets until they are utilized.
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