Examlex
When an application is open but not being used to complete tasks, it is said to be running in ____.
Adjusting Entry
Journal entries made in accounting records at the end of an accounting period to allocate income and expenditure to the correct periods.
Asset Account
A financial account that represents the resources owned by a company, which have future economic value.
Liability Account
An accounting record that represents debts or obligations a company owes to others.
Cash Basis
An accounting method where revenues are recognized when received and expenses when paid, contrasting with accrual basis accounting.
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