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Describe the "Demographic Transition" and the steps by which a country goes from a high birth rate and high death rate to a low birth rate and low death rate.
The demographic transition is related to the transition from an agricultural economy to an industrial,and post-industrial society,which is also related to urbanization.
Asset Account
An account that tracks resources owned or controlled by a business or individual which have economic value.
Unearned Items
Income received for goods not yet delivered or services not yet provided, considered a liability until the goods or services are delivered.
Adjusting Journal Entry
Adjusting journal entries are made in the accounting records to correct or allocate transactions in the appropriate accounting period for accurate financial reporting.
Expense
An outflow of assets or incurring of liabilities resulting from a company's operations, intended to generate revenue.
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