Examlex
Discuss the differences between how client-side extensions and server-side extensions are created and executed, including the kinds of languages used to create them.
Accumulated Depreciation
The total amount of a company's asset value that has been allocated as depreciation expense since the asset was put into use.
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thus preparing the books for the next period.
Income Summary
An account used in the closing process that summarizes revenues and expenses for a period, transferring the net amount to retained earnings.
Sales Returns
Transactions where customers return defective, unsatisfactory or unwanted products back to the seller, resulting in a reversal of revenue.
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