Examlex
Which of the following is NOT an interview format?
Offsetting Errors
Offsetting errors occur when two or more accounting mistakes cancel each other out, resulting in no net effect on the financial statements.
Trial Balance
A trial balance is a bookkeeping report that lists the balances of all ledgers accounts in two columns, debits and credits, ensuring that total debits equal total credits.
Accounts Payable
Liabilities to creditors for goods or services that have been received but not yet paid for.
Credit
An accounting entry that increases liabilities or equity or decreases assets, representing a transfer of value in financial transactions.
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