This Is the _____ of the _____

question 60

Essay

This is the _____ of the _____.

---

Definitions:

Adjusting Entries

At the end of a financial period, entries are made in the books to correctly allocate profits and outlays to the period they belong to.

Inter-Relationship of Accounts

The connection and impact that different financial accounts have on each other within the accounting system.

Operations

The day-to-day activities involved in running a business that are necessary for producing and delivering its goods and/or services to the market.

Adjusting Entries

Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.