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Normality is the assumption that data in the population are normally distributed.
Recognized
In accounting, recognized refers to the formal acknowledgment of a financial transaction or event in the financial statements of a business.
Adjusting Entry
At the close of an accounting period, entries recorded in the financial ledgers to distribute incomes and costs to the period they genuinely happened.
Expense
Outflows or the using up of assets or incurrences of liabilities during a period from delivering or producing goods, rendering services, or carrying out other activities that constitute the entity’s ongoing major operations.
Bill Received
An invoice or statement listing goods provided or services rendered, indicating the amount due for payment.
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