Exam 2 study guide

What are accrual accounts? What are deferral accounts? What are adjusting entries? What is depreciation? When do you make an adjusted trial balance? After your adjusted trial balance is made in What order do you make the nancial statements in? What is the difference between a current asset and a long-term asset? What is the different between a current liability and a long-term liability? What are xed assets called and give examples? What are some examples of current assets? What are some examples of current liabilities? What accounts are temporary accounts? What accounts are permanent accounts? What does liquidity mean? What does solvency mean