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If a behavior such as stealing a neighbor's possessions is considered normal in one culture and abnormal in another,the normality or abnormality of the behavior is probably being judged according to:
Note Receivable
A written promise that one party will receive a certain amount of money from another party at a future date, categorized as an asset.
Honoured
In financial terms, referred to a cheque or payment that has been accepted and processed by the bank.
Adjusting Entries
Journal entries made in accounting to update the records for accruals and deferrals that have not been recorded through regular financial transactions.
Calendar-year
A one-year period that starts on January 1 and ends on December 31, used in financial reporting and tax calculations.
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