Examlex
Rate of return regulations place maximum limits on the prices firms can charge for their products.
Accounts Receivable
Receivables from customers for products or services rendered by a company, awaiting payment.
Accounts Payable
An accounting entry representing a company's obligation to pay off a short-term debt to its creditors or suppliers.
Correcting Entry
An accounting entry made to correct any erroneous or previously misunderstood transactions recorded in the financial statements.
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal to ensure the accounting system's mathematical correctness.
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