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Ethical decisions are best made by
Closing Entry
Journal entries made at the end of an accounting period to transfer balances from temporary accounts to permanent ones, preparing for the next period.
Pre-closing Trial Balance
A financial report listing all the account balances in the general ledger before adjusting entries are made for the preparation of financial statements.
Closing Entries
The accounting process of transferring temporary account balances to permanent accounts at the end of an accounting period.
Journalizing
The process of recording transactions in a journal before they are posted to ledger accounts.
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