Examlex
An illustration of offense clusters is
Post-closing Trial Balance
A list of all accounts and their balances after the closing entries are made, used to check the accuracy of closing entries and prepare for the next accounting period.
Retained Earnings
The cumulative amount of net income earned by a company that is retained and not distributed to shareholders as dividends.
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.
Net Income
The remaining earnings of a corporation after deducting all operating costs and tax obligations from its revenue.
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