Examlex
Which of the following is a valid SQL command?
Correcting Entry
An accounting entry made to correct an error in the financial statements.
Supplies Expense
The cost associated with the consumption of supplies used in the operations of a business during an accounting period.
Equipment
Fixed assets used in operations, such as machinery, computers, and furniture, which have a useful life of more than one accounting period.
Adjusting Entries
Adjusting entries are journal entries made at the end of an accounting period to update account balances before preparing financial statements, aligning them with the accrual basis of accounting.
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