![]() Don’t be embarrassed if you aren’t conversant in all the technical definitions. Now it’s time to urge up to hurry on common bookkeeping and accounting terms. When you decided to start out your business, you were just hoping to form extra money than you set in. Know the essential bookkeeping and accounting lingo. Revenues and expenses are recognized at the time they're actually received or paid. Let’s take a glance at the difference between the 2.
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