Examlex
Please define the following key terms. Show Who? What? Where? When? Why Important?
-Charles Martel
Closing Journal Entries
Entries made at the end of an accounting period to transfer the balances in temporary accounts to permanent accounts, preparing the books for the next period.
Dividends
Funds distributed to shareholders by a company, typically from its earnings.
Retained Earnings
The portion of a business's profits not distributed to shareholders but reinvested in the business or kept as a reserve.
Net Loss
The amount by which total expenses exceed total incomes for a business over a specific period, indicating a negative financial performance.
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