Examlex
When you delete a file from a hard disk, the file is deleted permanently.
Cash Basis
An accounting method where revenues and expenses are recorded only when cash is received or paid, irrespective of when the transactions actually occurred.
Adjusting Entry
Journal entries made in accounting records at the end of an accounting period to allocate income and expenditure to the correct periods.
Asset Account
A financial account that represents the resources owned by a company, which have future economic value.
Liability Account
An accounting record that represents debts or obligations a company owes to others.
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