Examlex
In computing MACRS depreciation in the year of disposition of personal property used in a trade or business,the half-year convention must be applied to the amounts in the tables if the half-year convention was used in the year the asset was placed into service.
Trial Balance
(1) Bookkeeping strategy to confirm accuracy in debits and credits in ledger; (2) A balance sheet reports the assets, liabilities, and stockholders’ equity of a business enterprise at a specific date.
Garbage In, Garbage Out
A principle in computing and data analysis that emphasizes the importance of quality input data to produce meaningful output or results.
Trial Balance
An accounting report that lists the balances of all ledgers in two columns (debits and credits) to ensure they are equal.
Accounts Receivable
Money owed to a business by its customers for goods or services delivered but not yet paid for.
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