IDENTIFICATION -Pedro Alvares Cabral

question 51

Short Answer

IDENTIFICATION
-Pedro Alvares Cabral

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Definitions:

Recurring Transactions

Transactions that occur at regular intervals, such as monthly subscriptions or annual memberships.

Revenues

The total amount of income generated by the sale of goods or services related to a company's primary operations.

Debits

Accounting entries that increase asset or expense accounts, or decrease liability or equity accounts, on the left side of a general ledger.

Credits

Accounting entries that increase liability, revenue, or equity accounts and decrease asset or expense accounts.