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question 74

Multiple Choice

Word Analysis. Examine the words and/or phrases for each question below and determine the relationship among the majority of words/phrases. Choose the option which does not fit the pattern.


Definitions:

Asset Balances

The value of different types of assets that a company owns, as recorded in the balance sheet at a particular point in time.

Liability Balances

The amount of money a company owes to creditors or other parties, reflected in its balance sheet.

Adjusted Trial Balance

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

Income Statement

A financial statement that shows a company’s revenues, expenses, and profits or losses over a specific period of time.

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