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Flashcards: The A's of Accounting
Accelerated Depreciation Method
Method that produces larger depreciation charges in the early years of an asset's life and smaller charges in its later years
Account
Record within an accounting system in which increases & decreases are entered stored in a specific asset liability, equity, revenue, or expense
Account Balance
Difference between total debits & total credits (including the beginning balance) for an account
Account Form Balance Sheet
Balance sheer that lists assets on the left side & liabilities ad equity on the right
Account Payable
Liability created by buying goods or services on credit; backed by the buyer's general credit standing