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Compare and contrast stratified sampling and cluster sampling.
Adjusting Entries
Journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
Accrual Basis
An accounting method where revenues and expenses are recorded when they are earned or incurred, regardless of when cash is exchanged.
Cash Basis
An accounting method where revenues and expenses are recognized only when cash is exchanged, as opposed to when they are incurred.
Permanent Account
An account that is not closed at the end of the accounting period and its balances are carried forward into the next period.
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