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Accounting Adjustments Fall into Three Basic Categories: Accruals, Prepaids, and Depreciation

question 83

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Accounting adjustments fall into three basic categories: accruals, prepaids, and depreciation.


Definitions:

Royal Dutch/Shell

A global group of energy and petrochemical companies, known for its innovations in oil and gas exploration.

Future Shocks

A term by Alvin Toffler referring to the distressing disorientation felt when individuals or societies experience too much change in too short a time.

Benchmarking

The use of external and internal comparisons to plan for future improvements.

Incorporating

The legal process of forming a corporation, which is a type of formal business entity.

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