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End-of-period Spreadsheet
A financial document used to summarize account balances and adjustments at the end of an accounting period, facilitating the preparation of financial statements.
Accounting Records
Documents and books that capture all the financial transactions of a business or individual.
Closing Process
The procedure in accounting that involves the transfer of all income and expense account balances to the retained earnings to prepare the ledger for the next accounting period.
Real Accounts
Accounts that relate to assets, liabilities, and equity, which are not closed at the end of the accounting period and carry their balances into future periods.
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