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You work in the registrar's office of a large university. You are responsible for creating a student database that contains students' ID numbers, names, addresses, phone numbers, and some medical information.
Suppose the student health database includes two tables, one table called Students that contains student information such as StudentID, student name, address, and telephone number and the other table called Documentation that contains several records for each student and records the dates and descriptions of various medical documents required by the university. What type of relationship would need to be established between the two tables?
Adjusting Entries
Journal entries made at the end of an accounting period to update account balances before producing financial statements, necessary for the accrual basis of accounting.
GAAP
Generally Accepted Accounting Principles; a collection of standardized guidelines and practices for financial accounting.
Income Summary
An account in the closing process that summarizes revenues and expenses for a period, transferring the net result to owner's equity.
Retained Earnings
The portion of a company's profits not distributed as dividends but reinvested in the business or kept as reserve.
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