Examlex
In norm-referenced assessment, the word norm refers to:
Adjusted Trial Balance
An inventory of every account along with its adjusted balance, utilized in the drafting of financial statements.
Adjusting Entries
Journal entries made at the end of an accounting period to update accounts before the financial statements are prepared.
Net Income
The residual earnings of a company after all costs including expenses and taxes are taken out from the total revenue.
Accrued Revenue
Revenue earned in one accounting period but not received until a later period, recognized in the financial statements when earned, not when received.
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