Examlex
Web 2.0 is the collaborative effort led by the World Wide Web Consortium to add a layer of meaning atop the existing Web to reduce the amount of human involvement in searching for and processing Web information.
Financial Statement
An organized log of economic actions and the financial situation of a firm, an individual, or any other unit.
Permanent/Temporary
Pertaining to accounts in accounting where permanent accounts are balance sheet accounts that carry over balances into the next financial period, and temporary accounts are reset or closed to equity through retained earnings at the end of a period.
Normal Balance
The side of an account (debit or credit) where increases in the account are recorded, reflecting the nature of the account.
Financial Statement
A formal record of the financial activities and position of a business, person, or other entity, typically including income statement, balance sheet, and cash flow statement.
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