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Your relational partner has a very responsible position and regularly gives briefings, sales talks, and speeches to large groups of people. However, when you ask him to make a couple of phone calls for some home maintenance and repairs, he says he does not like talking on the phone. You might conclude that he has
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances in temporary accounts to permanent accounts and to prepare the company's books for the next period.
Retained Earnings
The portion of net earnings not paid out as dividends but retained by the company to be reinvested in its core business or to pay debt.
Balance Sheet
A statement that showcases a firm's assets, liabilities, and equity of shareholders at a specific time, useful for determining return rates and examining the organization's financial framework.
Contributed Capital
The total value of the cash and other assets received from shareholders in exchange for stock.
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