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Describe the three major aspects of the situationist argument. Explain how trait psychologists responded to this argument.
Financial Statements
Financial Statements are written records that convey the business activities and the financial performance of a company, including the balance sheet, income statement, and cash flow statement.
Trial Balance
A financial worksheet that consolidates all ledger balances into equal debit and credit columns for each account.
Journal Entries
Recorded business transactions in the accounting records of a company, listed in the general journal.
Adjusting Journal Entries
Entries made in accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
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