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Journal Entries
Records of financial transactions in a company’s accounting system, providing a chronological record.
Periodic Inventory System
An inventory system that updates inventory balance after a certain period, typically incorporating physical counts to determine cost of goods sold.
Cost of Goods Sold
Directly incurred costs for materials and labor necessary for the production of goods a business sells.
Cash Flow Considerations
Refers to an evaluation of how a company generates and uses cash in its business activities, including investments, operations, and financing.
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