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What do historians mean when they refer to a war as a "total war"? How was World War I a total war? What would a total war look like today? In your opinion, would such a war be possible? Explain why or why not.
Statement of Cash Flows
A financial overview explaining how modifications in balance sheet accounts and income levels impact cash and cash equivalents, analyzed through operating, investing, and financing operations.
Accounting Equation
The fundamental equation that represents the relationship between an entity's assets, liabilities, and owner's equity; Assets = Liabilities + Owner's Equity.
Revenue Recognition Principle
An accounting principle that stipulates revenue should be recognized and recorded when it is earned, regardless of when the cash is received.
Business Entity Principle
An accounting concept that treats a business as separate and distinct from its owners for purposes of recording financial transactions.
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