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What is not a danger Warren cites?
Adjusting Entries
Journal entries made at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred, ensuring compliance with the matching principle.
Condensed Worksheet
A summarized form of a financial worksheet used for internal management purposes.
Accrual Basis
An accounting method that recognizes revenue when earned and expenses when incurred, regardless of when cash is exchanged.
Wages Expense
The cost incurred by a company for the work performed by its employees, reflected in its financial statements.
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