Examlex
A trial balance is completed after posting but before proving the subsidiary ledger by preparing a schedule of the controlling account.
Common Stock
A form of financial security that denotes part ownership in a company and entails a stake in the company's earnings or deficits.
Separate Entity Assumption
An accounting principle that treats a company as an independent entity separate from its owners for reporting purposes.
Noncurrent Asset
A noncurrent asset is a long-term investment or property that a company does not expect to convert into cash within one year.
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