Examlex
Typical process description tools include all of the following EXCEPT ____.
Fiscal Year
A twelve-month period used for accounting purposes to prepare financial statements, which may or may not align with the calendar year.
Calendar Year
A one-year period that begins on January 1 and ends on December 31, used for most financial and tax reporting purposes.
Financial Statements
Formal records of the financial activities and position of a business, person, or other entity, typically including a balance sheet, income statement, and cash flow statement.
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts.
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