Examlex
Which of the following is an adaptive action that is configured by default for ES?
Income Summary Account
A temporary accounting ledger that aggregates all income and expenses over a period to calculate net profit or loss.
Adjusting Entries
Bookkeeping entries recorded at the conclusion of an accounting cycle to apportion earnings and outlays to the appropriate period.
Interim Periods
Monthly or quarterly accounting time periods.
Annually
Occurring once every year.
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