Examlex
A psychologist notes that brain development depends on having certain experiences, but also that brain development limits the type of experiences a child can have. This comment points out the basic idea behind the term:
Note Matures
The point in time when a promissory note, bond, or other financial instrument's principal is due to be paid back.
Financial Statement
A written report which quantitatively describes the financial health of a company; it includes the income statement, balance sheet, statement of cash flows, and statement of retained earnings.
Normal Balance
The side (debit or credit) of an account that is expected to have a higher balance based on the accounting rules.
Temporary/Permanent
Categories used to distinguish assets, liabilities, and equity items based on their duration in financial statements; temporary items fluctuate regularly while permanent items typically remain constant over time.
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