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What is a cluster of antisocial behaviors that may include family dysfunction, substance abuse, smoking, precocious sexuality and early pregnancy, educational underachievement, suicide attempts, sensation seeking, and unemployment, as well as delinquency called?
Closing Entry
A journal entry made at the end of an accounting period to transfer temporary account balances to permanent accounts.
Revenue Accounts
Revenue accounts are those used in accounting to track the income generated by a business from its normal operations.
Income Summary
An account used in closing entries to summarize revenues and expenses for a specific accounting period before transferring the net income to retained earnings.
Reversing Entries
Accounting entries made at the beginning of a new period to negate the effects of adjustments made at the end of the previous period.
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