Examlex
Match the descriptor with the correct abbreviation.
-CARF
Cash Basis Accounting
An accounting method in which revenues and expenses are recorded only when cash is received or paid out, not when the transaction occurs.
Goods
Physical items that are produced or purchased for sale.
Services
Intangible products such as expertise, assistance, or access to resources provided by businesses or professionals.
Accounting Period
A specific time period for which financial records and statements are prepared for a business or organization.
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