What Is Exploratory Research

question 6

Essay

What is exploratory research?

---

Definitions:

Permanent Accounts

Accounts on the balance sheet whose balances are carried over into the next accounting period.

Post-closing Trial Balance

A list of all company accounts that remain after adjusting entries and closing entries have been made, used to test the balance of debits and credits.

Asset Accounts

Accounts on a balance sheet representing resources owned or controlled by a company with future economic value.

Liability Accounts

Accounts that represent amounts owed to creditors or bills that must be paid in the future, contributing to a company’s liabilities on the balance sheet.