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Which biome is characterized by hot summers and cold winters, topsoil rich in organic material, annual precipitation of 75 to 125 cm (30-50 in) , and many hardwood trees?
Installment Method
An accounting method that recognizes revenue and expenses only when payments are actually received or made, typically used in sales with extended payment plans.
Deferred Gross Profit
The portion of gross profit that is earned but not yet recognized, often in installment sales.
Current Liability
A company's debts or obligations that are due within one year, including accounts payable, short-term loans, and other short-term financial obligations.
Deposit Method
An accounting method used when revenue cannot be recognized because the fundamental earnings process is not considered complete.
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