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A pay rise is an example of positive reinforcement.The imposition of a curfew would constitute a punishment.The removal of the curfew would result in avoidance learning.
Income Summary Account
An account used to transfer the balances of temporary accounts to a permanent account at the end of an accounting period, summarizing revenue and expenses.
Closing Process
The procedure at the end of an accounting period where income and expense accounts are cleared out to start the new period with a zero balance.
Revenues and Expenses
Pertains to the income generated from normal business operations and the costs incurred to generate that income, crucial for determining net profit.
Special Account
A unique account that is established for a specific purpose, often outside the regular operations or financial structure.
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