Instructions: Identify the Following

question 43

Short Answer

Instructions: Identify the following. Be as specific as possible, and include names, dates, and relevant facts as appropriate. Be sure to explain the significance of the person or term.
Works Progress Administration

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Definitions:

Equipment

Tangible assets used in the operation of a business that have a useful life beyond a single reporting period.

Supplies

Items used in the operation of a business that are consumed or exhausted over time.

Accounts

Recordings within an accounting system that track financial transactions and their effects on specific assets, liabilities, equity, revenues, and expenses.

Balances

Refers to the amount of money in a financial account, the difference between debit and credit totals in an account, or the amount remaining unpaid on a debt.