Examlex
False beliefs that are held even when the facts contradict them are called
Opening Adjusting Entry
An entry made in the books at the beginning of an accounting period to adjust the balances of accounts from the previous period, ensuring accurate and up-to-date financial records.
Opening Balance Equity
An account used in accounting to balance the books when starting a new company file or reconciling accounts.
Retail Customers
Individuals who purchase goods or services for personal use, not for manufacturing or resale.
Sales Tax
A tax imposed by government on the sale of goods and services, usually calculated as a percentage of the selling price.
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