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Definition of Terms Final
Definition of Terms Final
Definition of terms
financial output for monthly reports, annual financial statements, tax return
Diffusion of Innovation. A theory that seeks to explain how, why, and at what
and accounting, states that every financial transaction has equal and opposite
(Wikipedia, 2019)
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UNIVERSITY OF CALOOCAN CITY
COLLEGE OF BUSINESS AND ACCOUNTANCY
accounting data for that period, with background notes, forms, and other
Financial Statements. Records that convey the business activities and the
Investment. A monetary asset purchased with the idea that the asset will
provide income in the future or will later be sold at a higher price for a profit.
(Investopedia, 2018)
are written in journals, from which the information is manually rolled up into a
Posting. The balances in sub-ledgers and the general journal are shifted into
2019)
2
UNIVERSITY OF CALOOCAN CITY
COLLEGE OF BUSINESS AND ACCOUNTANCY
which is easy to understand and use by both external and internal users of the
accounting statements. Graphs and other visual elements are often used to