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Defined Names with a Local or Global Scope Can Be

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Defined names with a local or global scope can be created using the Define Name command in the Defined Names group on the ____ tab on the ribbon.


Definitions:

Financial Statements

Reports that show the financial performance and position of a company, including the balance sheet, income statement, and cash flow statement.

Adjusting Entries

Journal entries made at the end of an accounting period to update the accounts for accruals and deferrals that have not been recorded during the period.

Closing Entries

Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thus resetting the temporary accounts for the next period.

Retained Earnings

The accumulated net income of a company that is retained and reinvested in the business rather than paid out as dividends.

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