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COGNITIVE ASSESSMENT What are the two main components on the motherboard?
Current Liabilities
Short-term financial obligations that are due within one year or within a company's operating cycle, whichever is longer.
Retained Earnings
The portion of a company's profits that is held or retained and saved for future use, investments, or to pay debt, rather than distributed to shareholders as dividends.
Adjusted Trial Balance
A statement listing all accounts and their final balances after adjusting entries are made, used to prepare financial statements.
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones.
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