Examlex
What process maintains homeostasis in the body?
Normal Balance
The side of an account (debit or credit) on which increases in the account are recorded, depending on the account type.
Financial Statement
Reports that provide an overview of a company's financial condition at a specific time, including income statement, balance sheet, and cash flow statement.
Permanent/Temporary
Refers to the two broad categories of accounts in accounting: permanent accounts track long-term financial activity, whereas temporary accounts are closed at the end of each accounting period.
Reversing Entries
Optional bookkeeping technique in which certain adjusting entries are reversed or switched on the first day of the new accounting period so that transactions in the new period can be recorded without referring back to prior adjusting entries.
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