Examlex
The process in which fatty acids are taken apart two carbons at a time is known as ______.
Journalizing
The process of recording a transaction in the journal.
Adjustments and Closing Entries
The journal entries made at the end of an accounting period to allocate income and expenditures to the appropriate periods.
Ledger
A book or database in which financial transactions are recorded, organized by account.
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby resetting the temporary accounts for the next period.
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