Examlex
The decision to use a ____ in a publication is based on a need to organize a large amount of information in an easily recognizable format and to reduce the amount of text necessary to explain the situation.
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, thereby preparing the accounts for the next accounting period.
Correcting Entry
A journal entry made in the accounting records to amend an error or oversight in previously recorded transactions.
Accounts Payable
Financial obligations a company has to its suppliers, recorded as liabilities on the business’s financial statement.
Cash
A form of currency that represents immediate purchasing power and liquidity.
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