Examlex
Describe the steps you would take to copy a style from one document to another document.
Prepaid Expense
An expense that is paid for in advance and recorded as an asset until it is actually incurred.
Double-Entry Bookkeeping
An accounting system in which the recording of each transaction affects two or more accounts and the total of the debits is equal to the total of the credits.
Debiting
The process of recording an entry on the left side of the accounting ledger, which increases asset or expense accounts and decreases liability, equity, or revenue accounts.
Crediting
The process of making an entry on the right side of an account in double-entry bookkeeping, indicating an increase in liabilities, equity, or revenue, or a decrease in an asset or expense.
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