Examlex
Match each of the terms with its definition or description.
-Tissue swelling as a result of too much interstitial fluid
Accrual Accounting
A rephrased definition of Accrual Basis of Accounting; it involves recording transactions when they are earned or incurred, providing a more accurate financial picture by matching revenues with expenses.
Expenses
Expenses are the costs incurred during the operation of a business, such as rent, salaries, utilities, and materials, which are subtracted from revenues to determine net income.
Generating Revenue
Generating revenue involves activities and strategies a business employs to sell goods and services to customers, resulting in earnings.
Accrual Basis of Accounting
An accounting method that records revenues and expenses when they are incurred, regardless of when cash transactions occur.
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