Examlex
According to early organisational theorists, what was the purpose of communication?
Merchandise Inventory
The goods a retail or wholesale company intends to sell to customers for a profit.
Income Summary
The Income Summary is an account in the ledger that aggregates all revenues and expenses for a period, transferring the net result to owner's equity.
Permanent Accounts
Accounts that carry their ending balances over to the next accounting period. Examples include assets, liabilities, and equity accounts.
Post-closing Trial Balance
A listing of all active general ledger accounts with their balances after closing entries are made, serving as a check to ensure debits equal credits before beginning a new accounting period.
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