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Double-Entry Bookkeeping System
An accounting method that records each transaction twice, once as a debit in one account and once as a credit in another, to ensure financial records balance.
Single-Entry System
A basic accounting method where each transaction is entered only once, either as an income or expense, making it less complex but more prone to errors than double-entry systems.
Staff Time
The amount of working hours dedicated by employees towards their job tasks.
Audit Expenses
The examination and verification of a company's financial and operational activities, specifically focusing on its expenses.
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