Examlex
________ forces lead to new developments in methods for transforming resources into goods or services. For example, a new technique called hydraulic fracturing (or fracking) has been developed to harvest natural gas trapped below the earth's surface.
Effective Interest Rate
The actual interest rate on a loan or financial product, reflecting the compounding periods per year.
Financial Statement
Reports that provide information about a company's financial performance and position, including balance sheets, income statements, and cash flow statements.
Normal Balance
The side (debit or credit) of an account that is expected to have a higher balance, based on the account type.
Temporary/Permanent
Categories used to distinguish between accounts that are closed at the end of an accounting period (temporary) and those that carry forward their balance into future periods (permanent).
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