Why Is This Theory Not Used as Much Today as It

question 17

Short Answer

Why is this theory not used as much today as it was when the theory was developed?

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Definitions:

End-Of-Period Spreadsheet

A document used in accounting to compile balances from ledgers for the purpose of preparing financial statements.

End-Of-Period Spreadsheet

A financial document used at the close of an accounting period to compile all balances before preparing final statements, aiding in the adjustment process.

Accounting Records

Documents and books that capture all financial transactions of a business, serving as the basis for its financial statements.

Journal

A chronological record of all financial transactions that occur within a business.