Cryptocurrency miners collect records of recent transactions and package them into a “block” that can be entered into a cryptographically protected permanent record for the network. But for that block to be a
Anirrevocable beneficiaryis permanent. If there are multiple beneficiaries named to a life insurance policy (e.g., aprimary beneficiaryand severalcontingent beneficiaries), then they would all need to consent to any changes involving an irrevocable beneficiary. Therefore, it's important to choose bene...
During the audit, the auditor prepares several types of audit working papers: Permanent files: The auditor creates permanent files for ABC Corporation that contain relevant information about the company, such as its articles of incorporation, bylaws, and internal control documentation. These files will...
A payroll tax is any tax that comes out of an employee’s gross pay. What is a payroll tax cut? A payroll tax cut is when the government decides to stop collecting certain taxes from people’s paychecks. This can be a temporary or permanent measure and it doesn’t necessarily apply to...
permanent replacement would be proposed. The original application proposed reinforcing the temporary line to make it permanent but the department of public service objected and suggested an underground option be pursued. An amended application proposing an underground line was filed in 1995. This new ...
A closing entry is an entry made in a journal. Made at the end of anaccountingperiod, it transfers balances from a set of temporary accounts to a permanent account. Essentially resetting the account balances to zero on the general ledger. ...
Accrued expenses are not meant to be permanent; they are meant to be temporary records that take the place of a true transaction in the short term. Every accrued expense must have a reversing entry; without the reversing entry, a company risks duplicating transactions by recording both the actu...
Leichter’s wisdom inspired me to build a permanent LGBTQ+ resource room at Williams College that also acted as an archive of queer experiences. I carry the lessons of Leichter’s assertions into my work within the greater D.C. community. Earlier this year, I worked with volunteers to open...
GOVERNMENT REGULATION OF SAFETY PRACTICES AT THE WORKPLACE Federal laws regulate the safety practices of most organizations. We limit our discussion to laws that affect a majority of organizations, but note that several additional laws exist which cover particular segments of the workforce. For ...
Only the permanent accounts show up on the post-closing trial balance. The trial balance sheet is prepared to capture the business transactions or entries that happens after the books of account are closed. What Is the Purpose of the Post-Closing Trial Balance? The main purpose of the post...