A(n) ____________________ Is Text That Appears at the Bottom of Every

question 44

Short Answer

A(n) ____________________ is text that appears at the bottom of every page.

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Definitions:

Closing Entry

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts.

Financial Statements

Documents that provide an overview of a company's financial condition, including balance sheet, income statement, and cash flow statement.

Proprietorship

A business owned by a single individual who is responsible for its assets and liabilities.

Personal Assets

Items of value owned by an individual, including cash, real estate, investments, and personal property.