Examlex
The idea that new spending creates more new spending is known as:
Time Period Assumption
An accounting principle that allows the business activities to be divided into artificial time periods for financial reporting.
Adjusted Trial Balance
A listing of all company accounts that will appear in the financial statements after adjustments have been made for journal entries.
Current Liability
An obligation due to be paid within a year, including accounts payable, short-term loans, and other similar debts.
Notes Payable
Financial obligations represented by promissory notes, where the borrower agrees to pay back a specified sum of money on demand or at a determined future date.
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