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Give two examples of recent advances in software engineering.
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Adjusting Entries
Journal entries made at the end of an accounting period to update accounts for accruals and deferrals not yet recorded through daily transactions.
Closing Entries
Entries made at the end of an accounting period to transfer the balances of temporary accounts to a permanent owner’s equity account, Owner’s Capital.
Correcting Entries
Entries to correct errors made in recording transactions.
Salary Allowance
A predetermined amount paid to employees, which may be part of their salary package, often for specific purposes or expenses.
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