Examlex
Which of the following is most likely an example of an automatic process?
Inventory
Materials and goods a business holds for the ultimate goal of resale or processing in the manufacturing process.
Purchase
Acquiring goods or services in exchange for money or other compensation.
Adjusted Trial Balance
A list of all accounts and their balances after adjustments are made for accruals, deferrals, and estimated items.
Adjusting Journal Entries
Entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.
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