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If a bomb is found, the most important rule in handling the suspect package is:
Adjusting Entries
Journal entries made at the end of an accounting period to allocate income and expenditure to the period in which they actually occurred.
Future Years
Subsequent time periods extending beyond the current year, regarding planning, forecasting, or expectation.
Periodic Inventory System
This inventory system records the inventory at the beginning and end of an accounting period to calculate the cost of goods sold, without tracking each individual transaction.
Unrealised Profit
Profit that has been generated but not yet realized through a transaction, such as an increase in the value of an investment that hasn't been sold.
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