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As the Assistant Human Resources Manager, you have access to the employment files of all of the employees, including management. You have inadvertently learned that the Vice President of Sales has tested positive for the HIV virus. You know that he is married, but doubt that he's told his wife. What should you do?
Accounting Cycle
The series of steps followed by an entity to track and manage its financial transactions, from the initial transaction recording to the final financial statement preparation and closing entries.
Closing
The process of finalizing accounts at the end of an accounting period by summarizing revenues and expenses and indicating net profit or loss.
Balance Columns
Sections in ledger accounts used to record debits on the left and credits on the right, facilitating the determination of account balances.
Balance Sheet Accounts
Records of a company's financial balances, including assets, liabilities, and shareholders' equity, at a point in time.
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