Examlex

Solved

Thick Clouds of This Type Can Be Used to Predict

question 61

Multiple Choice

Thick clouds of this type can be used to predict rain or snow within 12 to 24 hours because the often appear ahead of an advancing cyclonic storm.


Definitions:

Credit

A financial record that raises a liability or equity account, or reduces an asset or expenditure account.

Debit

A debit is an accounting entry that results in either an increase in assets or expenses or a decrease in liabilities or equity on a company's balance sheet.

Owner's Equity

The residual interest in the assets of the entity after deducting liabilities, representing the owner's claim on the business assets.

Expenses

Costs incurred in the process of earning revenue, including operational costs like rent, utilities, and payroll.

Related Questions