____________ Communications Are Usually Most Accurate

question 24

Short Answer

____________ communications are usually most accurate.

---

Definitions:

Normal Balance

Represents the side (debit or credit) of an account that increases its value, based on the double-entry accounting system.

Debit

An accounting entry that increases an asset or expense account, or decreases a liability or equity account.

Cash Discount Period

A specific time frame during which a buyer can pay less than the full amount due by taking advantage of a discount offered.

Liability Account

A financial accounting term for amounts owed by a business to creditors or others, usually categorized as current or long-term.