Examlex
Which of the following scenarios illustrates the physiological response of acclimatization?
Normal Balance Side
Normal Balance Side is the side (debit or credit) of an accounting ledger on which increases to the account are recorded, depending on the account type.
Double-Entry Accounting
An accounting method requiring every financial transaction to be recorded in two accounts, one debit and one credit, to keep the accounting equation balanced.
Debits
Accounting entries that increase assets or expenses or decrease liabilities, equity, or revenue, recorded on the left side of an account.
Credits
Entries on the right-hand side of an accounting ledger, indicating increases in liability, equity accounts, and revenue, or a decrease in assets.
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