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You've just finished reading Chapter 12 on aggression. Your roommate-a chemistry major-is fascinated by all the interesting things you have learned in your social psychology course and asks you, "Well, if anger sometimes leads to aggression, what am I supposed to do?" What would you say to her?
Accrual Basis
An accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.
Cash Basis
An accounting method where revenues and expenses are recognized only when cash is exchanged, as opposed to when they are incurred.
Permanent Account
An account that is not closed at the end of the accounting period and its balances are carried forward into the next period.
Temporary Account
An account used in accounting that is closed at the end of each accounting period, transferring its balance to a permanent account.
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