Identify the Following Terms

question 12

Short Answer

Identify the following terms.
-Dyaus and Indra

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Definitions:

Financial Accounting

The field of accounting focused on the summarization, analysis, and reporting of financial transactions pertaining to a business to external entities.

Subchapter S Corporation

A corporation that meets specific Internal Revenue Code requirements and elects to be taxed as a pass-through entity, avoiding double taxation on its income.

Domestic Corporation

A company that is incorporated under the laws of the country in which it is doing business.

Accrual Basis

An accounting method that records income when earned and expenses when incurred, regardless of when the cash is received or paid.