Identify the Following Terms

question 87

Short Answer

Identify the following terms:
David Livingstone and the "three Cs"

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Definitions:

Monthly Adjustment

A routine accounting process for updating financial statements and records to reflect changes and transactions that occurred within a month.

Supplies Used

The amount of materials and goods utilized during a specific period for the operation of a business.

General Journal

A primary accounting record where all financial transactions are initially recorded, before being posted to specific accounts in the ledger.

Horizontal Analysis

A financial analysis technique that compares historical financial data over a series of reporting periods, using a base year as a comparison.