Examlex
A string of one hundred 0s is replaced by two markers, a 0, and the number 100. This is ___.
Debit
A financial record that leads to a rise in a company's assets or a reduction in its liabilities on the balance sheet.
Credit
An accounting entry that increases liabilities or equity or decreases an asset or expense.
Prepaid Insurance
An asset account that reflects payments made for insurance coverage periods extending into the future; it is expensed over time as the coverage period lapses.
Normal Balance
Refers to the debit or credit balance that is expected on a specific type of account based on its accounting rule.
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