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Which of the following equity concepts would you expect to be least important to a financial analyst?
Adjusting Entry
A journal entry made at the end of an accounting period to allocate revenue and expenses to the appropriate periods.
December Rent
A specific expense related to the leasing of property or space that is due in the month of December.
Adjusting Entries
Ledger entries prepared at an accounting cycle's end to correctly allocate income and expenses to the period they occurred.
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