Examlex
In the discussion of the earth's annual energy balance,we saw that the earth absorbed approximately 51 units of solar energy but emitted 117 units of infrared energy.What prevents the earth from getting colder and colder?
Write-off
An accounting practice where the value of an asset is reduced to zero, reflecting its irrecoverability.
Write-down
An accounting term referring to the reduction in the book value of assets when their fair market value has fallen below the previously recorded cost.
Accounting Systems
Procedures and systems used by a business to keep track of its financial transactions and prepare financial statements.
Double-Entry
An accounting method of recording transactions that provides an equality of debits and credits. Using the double-entry.
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