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Continuity Is the Tendency to __________

question 339

Multiple Choice

Continuity is the tendency to __________.


Definitions:

Adjusting Entry

A journal entry made at the end of an accounting period to allocate income and expenditures to the appropriate accounting period.

Debit

An accounting entry that results in either an increase in assets or a decrease in liabilities or equity on a company's balance sheet.

Credit

An accounting entry that increases liabilities or equity or represents a decrease in assets, also refers to the provision of resources based on trust.

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