Examlex
Which of the following is considered a value?
Adjustment
An accounting entry made into a journal that is used to record changes in account balances.
Financial Statement
A formal record of the financial activities and position of a business, person, or other entity, presenting the financial results over a specific period.
Normal Balance
The side (debit or credit) of an account on which increases to the account are recorded, depending on the account type.
Temporary/Permanent
Refers to the nature of accounts where temporary accounts are closed at the end of an accounting period, and permanent accounts carry their ending balances into the next period.
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