Examlex
What are the major goals of the closing process?
Dividends
Payments made by a corporation to its shareholder members; it is the portion of corporate profits paid out to stockholders.
Average Collection Period
The average time it takes for a business to receive payments owed by its customers, indicating the effectiveness of its credit and collection policies.
Balance Sheet
A statement that presents an organization's assets, liabilities, and the equity of its shareholders at a distinct point in time.
Sales On Account
Transactions where goods are sold but payment is deferred to a later date.
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