Examlex
Choose the incorrect statement regarding adaptation from the following:
Operating Expenses
Costs associated with the day-to-day functions of a business excluding the cost of goods sold.
Fiscal Year
A fiscal year is a one-year period designated for accounting and financial reporting purposes, differing from the traditional calendar year.
Ledger
The principal book or computer file for recording and totaling economic transactions measured in terms of a monetary unit of account by account type.
Accounting Equation
A fundamental principle of accounting representing the relationship between a company's assets, liabilities, and equity (Assets = Liabilities + Equity).
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