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Match Expenses
The accounting principle that requires expenses to be recorded in the same accounting period as the revenues that are earned as a result of those expenses.
Adjusting Entry
Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.
Balance Sheet Account
An account found on the balance sheet, which is one of the three principal financial statements; these accounts include assets, liabilities, and shareholders' equity.
Depreciation Expense
The portion of the cost of an asset that is allocated as an expense over its useful life, reflecting the decrease in value over time.
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