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How many miles are covered in a 15 km race? (1 mile = 5280 feet,12 inches = 1 foot,1 inch = 2.54 cm)
Expense Account
An account used to record expenses in accounting, representing money spent or costs incurred in an entity's operations to generate revenues.
Closing Journal Entries
Entries made at the end of an accounting period to transfer the balances in temporary accounts to permanent accounts, preparing the books for the next period.
Dividends
Funds distributed to shareholders by a company, typically from its earnings.
Retained Earnings
The portion of a business's profits not distributed to shareholders but reinvested in the business or kept as a reserve.
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