Provide a Definition of Each of the Follow Accounting Terms

question 138

Essay

Provide a definition of each of the follow accounting terms.
$$\begin{array} { | l | l | } \hline \text { Accounting Term } & \text { Definition } \\\hline \text { Ledger } & \\\hline \text { Trial Balance } & \\\hline \text { Debit } & \\\hline\end{array}$$

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Definitions:

Direct Materials Budget

A financial plan that estimates the cost of raw materials required for production.

Beginning Inventory

The value of goods available for sale or use at the start of an accounting period, carried over from the end of the previous period.

Budgets

Financial plans that estimate revenue and expenditures over a specific time period.

Potential Bottlenecks

Points in the production process that can cause delays due to limited capacity or resources, impacting overall productivity.