Examlex
GETH:
Accounting Principles
The rules and guidelines that companies must follow when reporting financial data, ensuring consistency, reliability, and comparability of financial statements.
Accounting Period
A specific period of time for which financial records are maintained and financial statements are prepared.
Unearned Revenue
Refers to the money received by a company for goods or services yet to be delivered or performed, thus considered a liability.
Prepayment
The act of paying for a good, service, or expense in advance before receiving or incurring it.
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