Examlex
The understanding that numbers should always be recited in the same order represents
Prepaid Rent Expense
An account representing rent payments made in advance for future periods, which is gradually expensed over the benefit period.
Contra-Asset
An asset account where the balance is expected to be a debit balance but is instead a credit balance, such as accumulated depreciation.
Worksheet
A spreadsheet used by accountants to prepare adjusting entries, financial statements, and to ensure the accounts balance before closing.
Accountant
A professional who performs accounting functions such as audits or financial statement analysis and is proficient in financial reporting and regulation.
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