Examlex
Apparent senility in the elderly is often caused by harmful combinations of over-the-counter and
prescription medicines.
Financial Statements
Structured reports of an entity's financial activities and condition, including the balance sheet, income statement, statement of cash flows, and statement of changes in equity.
Permanent Accounts
Accounts that carry their ending balances over into the next accounting period and are not closed out, such as assets, liabilities, and equity accounts.
Balance Sheet
A document depicting a corporation’s financial standing at a particular instant, outlining its assets, debts, and owner's equity.
Real Accounts
Accounts that are not closed at the end of the accounting year and include all balance sheet accounts that show the real and permanent financial position of a business.
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