Examlex
Which statement reflects a negative pattern of thinking associated with restricted affect symptoms?
Income Summary
A temporary account used to transfer the revenues and expenses for an accounting period to the Retained Earnings account.
Retained Earnings
The total earnings of a company so far, minus any dividends or distributions given out to shareholders.
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, preparing the books for the next period.
Retained Earnings
The portion of net income left over after dividends are paid out to shareholders, reinvested into the company's operations.
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