Describe the Electromagnetic Spectrum

question 16

Essay

Describe the electromagnetic spectrum. Distinguish between the visible and invisible portions of the electromagnetic spectrum.

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Definitions:

Expense Recognition (Matching)

A principle of accrual accounting that matches expenses with revenues in the period in which they are incurred to generate those revenues, ensuring accurate financial reporting.

Prepaid Expenses

Costs incurred upfront for the future receipt of goods or services.

Adjusting Entry

An accounting entry made at the end of an accounting period to allocate income and expenditure to the appropriate period.

Expenses

Costs incurred by a business in the process of earning revenue, including operational costs, wages, and utilities, reflected on the income statement.