If Your Last and First Name,as Well as Address and Other

question 25

Short Answer

If your last and first name,as well as address and other details appear in the files of the department where you work as well as in the payroll file of the Human Resource department,there is duplication of data,or _________.

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Definitions:

Revenue Accounts

Accounts that track the income earned from the sale of goods and services, or the increase in equity resulting from the operations of an organization.

Owner's Capital Account

An account on a company's balance sheet that represents the owner's invested capital plus retained earnings minus withdrawals.

Balance Sheet Accounts

Accounts that reflect the financial position of a company at a specific point in time, including assets, liabilities, and shareholders' equity.

Closing Entry Process

The procedure used at the end of an accounting period to transfer balances from temporary accounts to permanent accounts, clearing the temporary accounts for the next period.