Examlex
Price subsidies have no deadweight losses so long as the (uncompensated) demand curve is vertical.
Liability
Financial obligations or debts that a company owes, which are settled over time through the transfer of economic benefits including money, goods, or services.
Trial Balance
A report that lists all the balances of the general ledger accounts to check the correctness of bookkeeping entries.
Entry Posted
The action of recording an accounting entry in the ledger, which finalizes the transaction and makes it part of the financial records.
Debit
A bookkeeping record that causes assets to go up or liabilities to go down on a firm's balance sheet.
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