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Most of us turn our heads toward an unexpected loud sound, such as a loud crack of thunder or a gun shot. This startled response is the result of a(n) _____.
Prepaid Insurance
Payments made in advance for insurance coverage, which is then expensed over the period the coverage is applicable.
Post-Closing Trial Balance
A list of all real accounts that remain after closing entries are made and have balances, used to verify the equality of debits and credits.
Accounts
Records of financial transactions, showing amounts owed or transactions entered into by a business.
Fees Earned
Revenue recognized by a company for services it has provided to clients or customers, rather than for the sale of goods.
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