To Increase the Sophistication of Your Message,make Liberal Use of References

question 153

True/False

To increase the sophistication of your message,make liberal use of references such as "the latter," "the former," "the aforementioned," and "as mentioned above."

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Definitions:

Fiscal Year

A fiscal year is a 12-month period that an organization uses for accounting purposes and preparing financial statements.

Ledger Entries

Records of financial transactions within a company’s general ledger, detailing accounts affected and the amounts for each transaction.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, thereby preparing the books for the next period.

Adjusted Trial Balance

A list of all the accounts and their balances after adjusting entries are made, used for preparing financial statements.