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According to the introductory discussion of the reading process,
Consumable Items
Items that are intended to be used up and replaced in a short period of time, often part of operating supplies.
Expired Costs
Costs that have been incurred and cannot be recovered, often through the consumption of goods or by providing services in a given period.
Adjusting Entry
Journal entries made in accounting records at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.
Comprehensive Income
Total change in equity for a reporting period that includes all non-owner changes in equity, not just those resulting from net income.
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