Examlex
According to the text,the last step in the report preparation and presentation process is ________.
Adjusting Entries
Adjusting entries are journal entries made in the accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.
Routine Entry
Regular, often daily, accounting entries that reflect standard business transactions.
Accrued
Describes expenses or revenues that have been incurred but not yet recorded through a payment or receipt, reflecting in accounts payable or receivable.
Deferred
Refers to items or transactions that have been postponed or delayed to a future date.
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