Identify and State the Historical Significance of the Following

question 59

Short Answer

Identify and state the historical significance of the following:
-Human Genome Project

---

Definitions:

Effective Interest Method

A technique used in accounting to allocate the interest expense or income of a bond over its lifetime based on the bond's carrying amount at each interest period.

Balance Sheet

A financial statement that summarizes a company's assets, liabilities, and shareholders' equity at a specific point in time.

Effective Interest Method

The effective interest method is a finance and accounting technique used to allocate loan or bond interest expense over the relevant period based on the loan's book value.