Examlex
The application of ethical principles to business situations can be referred to as:
Closed
Refers to an account, operation, or period that has been finalized and no longer available for transactions or adjustments.
Posting
The process of transferring the debits and credits from the journal entries to the accounts.
Debit
An entry recorded on the left side of an account ledger, signifying an increase in assets or expenses or a decrease in liabilities, equity, or income.
Unearned Revenue
The liability created by receiving revenue in advance.
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