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question 7

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Use headings

Grasp the mechanics and purpose of closing entries in the accounting cycle.
Know the accounts included in the post-closing trial balance and their significance.
Understand the concept and process of closing entries in accounting.
Identify the sequence of steps in the accounting cycle.

Definitions:

Bipolar Disorders

A group of mood disorders characterized by dramatic shifts in a person's mood, energy, and ability to function, including periods of mania and depression.

Cognitive Therapy

A form of therapy that focuses on how clients’ cognitions (e.g., expectations, attitudes, and beliefs) lead to distress and may be modified to relieve distress and promote adaptive behavior.

Beliefs

Mental attitudes or convictions held by an individual or group regarding the truth or existence of something.

Attitudes

A settled way of thinking or feeling about someone or something, typically reflected in a person's behavior.

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