Examlex
Which string displayed using the ls -l command in a Linux terminal indicates that group permissions are set to read and modify?
Accrual
The accounting principle of recording revenues and expenses when they are incurred, regardless of when cash transactions occur.
Contra Asset
A balance sheet account used to reduce the value of related asset accounts to report their net value; examples include accumulated depreciation or allowance for doubtful accounts.
Prepayment
Payments made in advance for goods or services, recorded as an asset on the balance sheet until the corresponding goods or services are received.
Adjusting Entries
At the end of a financial period, entries are made in the books to correctly allocate profits and outlays to the period they belong to.
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