Briefly Explain,with a Suitable Example,the Concepts of Transparency and Authenticity

question 81

Essay

Briefly explain,with a suitable example,the concepts of transparency and authenticity with respect to social media?

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Definitions:

Trial Balance

A financial spreadsheet where all ledger balances are gathered into columns for debits and credits, ensuring both totals match.

Debit Column

The left-hand side of a ledger account, recording increases in assets and expenses, and decreases in liabilities, equity, and revenue.

Expense Recognition Principle

An accounting principle that dictates expenses should be recognized in the period in which they are incurred to earn revenues.

Efforts

The use of physical or mental energy to achieve tasks and goals.