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The first step in the accounting cycle is to:
Advertising Expense
The cost incurred to promote products, services, or the overall brand, which is often reported on the income statement.
Period Costs
Expenses that are not directly tied to the production of goods or services, such as selling, general, and administrative expenses.
Selling
The process of exchanging a product or service for money; involves promoting and delivering goods to customers.
Administrative
Related to the activities that manage, organize, and run an organization including tasks such as budgeting, staffing, and directing resources.
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