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How do simulations differ from games?
Accrued Wages
Salaries or wages that have been earned by employees but have not yet been paid by the company.
Net Income
What a company ultimately earns in profit once expenses and taxes are removed from its total income.
Adjusting Entries
Journal entries made in the accounting records to correct or update financial information before the preparation of financial statements.
Unearned Revenue
Money received by an entity for goods or services yet to be delivered or rendered, recognized as a liability until the obligation is fulfilled.
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