Identify a Problem to Which You Developed an Innovative Solution

question 13

Essay

Identify a problem to which you developed an innovative solution. Does your solution signal a business opportunity? Your example can be a simple as changing ingredients in a recipe.

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Definitions:

Salaries Expense

This refers to the total amount paid by a company for employee salaries over a specific period, recorded on the income statement.

Trial Balance

A bookkeeping worksheet listing the balances of all ledgers in two columns, debits and credits, used to verify the equality of the two totals.

Cash Dividend

A payment made by a company to its shareholders, typically in the form of cash, out of its profits or reserves.

Journalize

The process of recording transactions in a journal, marking the first step in the accounting cycle.