The World Is Undergoing a Demographic Shift Toward More Older

question 108

True/False

The world is undergoing a demographic shift toward more older adults and fewer young children.

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Definitions:

Revenues

The income generated from normal business operations and includes discounts and deductions for returned merchandise.

Normal Balance Side

Normal Balance Side is the side (debit or credit) of an accounting ledger on which increases to the account are recorded, depending on the account type.

Double-Entry Accounting

An accounting method requiring every financial transaction to be recorded in two accounts, one debit and one credit, to keep the accounting equation balanced.

Debits

Accounting entries that increase assets or expenses or decrease liabilities, equity, or revenue, recorded on the left side of an account.