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Which of the following is a facilitator of communication?
Note Payable
A written promise to pay a specific amount of money, either on demand or at a set future date, typically evidenced by a formal legal document.
Adjusted Trial Balance
A list of all accounts and their balances after adjustments are made for accruals, deferrals, and other adjustments, used in the preparation of financial statements.
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts.
Permanent Accounts
Accounts that are not closed at the end of the accounting period, hence carry their balances over into the next period; these include asset, liability, and equity accounts.
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