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Which of the following is true regarding clouds?
Financial Statements
Formal records that outline the financial activities and condition of a business, including the income statement, balance sheet, and statement of cash flows.
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, preparing the books for the next period.
Adjusting Entries
Journal entries made in accounting at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
Unadjusted Trial Balance
A listing of all accounts in the general ledger with their balances before any adjustments are made for the end of the accounting period.
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