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In the context of the models of prison organization, which of the following is true of the custodial model?
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, thereby preparing the accounts for the next period.
Depreciation Expense
is the charged amount for a particular period for the reduction in value of tangible assets due to usage and passage of time.
Accumulated Depreciation
The total amount of depreciation expense that has been recorded for an asset since it was put into use, representing the wear and tear on the asset over time.
Balance Sheet Credit
Refers to any credit entry recorded in the balance sheet, indicating an increase in liabilities or equity or a decrease in assets.
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