Examlex
Research has revealed higher levels of conformity in
Asset
Resources owned or controlled by a business that are expected to provide future economic benefits, including tangible and intangible items.
Liability
An economic obligation or debt owed by a company to others, typically other businesses or employees.
Contra-Asset
An account on a company's balance sheet that reduces the total value of assets, often used for accumulated depreciation or allowances for bad debts.
Perpetual Inventory
An inventory management system that records the sale or purchase of inventory immediately through the use of computerized systems.
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