Examlex
Which of the following concepts represents more recent developments in labeling theory?
Post-closing Trial Balance
A list of all accounts and their balances after closing entries are made, serving as a check to ensure that debits equal credits.
Permanent Account Balances
The ongoing balances in balance sheet accounts that are carried over from one accounting period to the next.
Temporary Account Balances
Accounts that are closed at the end of each accounting period, including revenues, expenses, and dividends accounts.
Net Income
The net gain a company achieves after all operational costs and taxes are removed from its entire revenue.
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