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Adam gave his employees several tasks and asked them to decide who should do what.The group of employees each took a task and then had one employee pull all the pieces together to create a report.With the exception of the employee who pulled all the pieces together,the employees did not have input into one another's work.This is an example of a(n) _______.
Accounts
Financial records that track transactions related to a specific asset, liability, equity, revenue, or expense category.
Simple Journal Entry
A basic accounting entry used to record transactions with only one debit and one credit.
Debit
An accounting entry that increases asset or expense accounts or decreases liability, equity, or revenue accounts.
Credit
A financial arrangement where a borrower receives something of value now and agrees to repay the lender at a later date, generally with interest.
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