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Without mutation,evolution would eventually cease,because mutations create the variation that evolution acts upon.
Post-Closing Trial Balance
A list of all accounts and their balances after the closing entries have been made, used to verify the equality of debits and credits and prepare for the next accounting period.
Supplies Expense
An expense account that records the cost of consumable items used during an accounting period, such as office supplies.
Purchases
Transactions where goods or services are exchanged for money, typically recorded in the accounting period in which they occur.
Income Summary Account
An income summary account is an account used in the closing process that temporarily holds the balances of all income and expense accounts before transferring the net result to capital or retained earnings.
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