Examlex
Segregation refers to the act of
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary accounts to permanent accounts, clearing the way for the next accounting period.
Periodic Financial Statements
Reports that are issued at regular intervals, such as monthly, quarterly, or annually, summarizing a company's financial position.
Accounting Period
A specific period of time used for financial reporting purposes, typically a quarter or year.
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