Examlex
Identify the functional group contained in the following molecule.
Adjusting Entry
An entry made in the books at the end of an accounting period to allocate income and expenditures to the appropriate period.
Prepaid Insurance
An asset account that represents insurance payments made in advance for coverage that will be received in the future.
Office Supplies Account
An account used to track expenses related to materials and supplies used in an office environment.
Adjusting Entry
At the closure of an accounting period, entries are documented to attribute earnings and outlays to the span during which they genuinely happened.
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