Examlex
A lens of focal length 45 mm is used as a magnifier.The object being viewed is 6.8 mm long,and is positioned at the focal point of the lens.The lens is moved closer to the object,so that the image is now 25 cm from the lens.The distance the lens has been moved,in cm,is closest to:
Accumulated Depreciation
The total amount of depreciation expense that has been recorded against the cost of a fixed asset, reducing its book value over time.
Permanent Account
An account that carries its ending balance over to the next accounting period, typically representing real accounts like assets, liabilities, and equity.
Closing Process
The steps taken at the end of an accounting period to prepare accounts for the next period, including zeroing out temporary accounts.
Closing the Books
Closing the books is an accounting process involving updating ledger accounts at the end of an accounting period to prepare financial statements.
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