What are the basic terms related with accounting with examples?
Answers
Explanation:
Explanation:
In other words, we can also say that the reciprocal of a number is; 1 divided by that number.
For example, Reciprocal of 7 = 1 ÷ 7 = 1/7
Reciprocal is a number that when multiplied to the given number gives the product 1.
Especially in the case of fractions, to find the reciprocal of a fraction, interchange the numerator and denominator.
For example, the reciprocal of 7/10 is 10/7
Note: Reciprocal is another word for the multiplicative inverse.
Thus, we have seen the definition of reciprocal and a few examples related to it.
Answer:
Accounts Payable – Accounts Payable are liabilities of a business and represent money owed to others. ... Accounts Receivable – Assets of a business and represent money owed to a business by others. Accrual Accounting – Records financial transactions when they occur rather than when cash changes hands.
Explanation:
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