Examlex
A sys admin is trying to understand EBS snapshots. Which of the below mentioned statements will not be useful to the admin to understand the concepts about a snapshot?
IFRS
International Financial Reporting Standards, a set of accounting standards developed by the International Accounting Standards Board (IASB) that guide the financial reporting activities of companies worldwide.
GAAP
Generally Accepted Accounting Principles, a common set of accounting principles, standards, and procedures that companies must follow when compiling their financial statements.
Double-Entry System
An accounting method that requires every financial transaction to be recorded in at least two accounts—where one account is debited and another is credited—to ensure accuracy and balance in the financial records.
Salaries Expense
The total amount paid to employees for services rendered during a specific period, typically recorded as an operating expense.
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