Define the Following Terms: Anglican Church

question 38

Short Answer

Define the following terms: Anglican Church

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Definitions:

Bank Loan

A sum of money borrowed from a bank that needs to be repaid with interest.

Accrual

An accounting method that records revenues and expenses when they are incurred, regardless of when cash transactions occur.

Spontaneous Financing

Financing that arises naturally from the normal operations of a company, such as trade credit that increases automatically with increases in sales.

Accrued Depreciation

The total amount of depreciation expense that has been charged against a fixed asset since it was put into use, contributing to its reduced book value.