Examlex
The purpose of a household inventory is to provide evidence of items covered by home insurance.
Credit Side
The right side of an account in double-entry bookkeeping, typically used to record increases in liabilities, revenue, or equity.
Basic Accounting Equation
The foundational accounting principle stating that Assets = Liabilities + Equity.
General Journal
An initial record where all transactions are first entered, providing a chronological order of all financial transactions made by a business.
Chronological Record
A record of events in the order they occurred over time.
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