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What is a buying centre? What are some implications of buying centres to the marketing manager?
Adjusting Entries
Bookkeeping entries recorded at the conclusion of an accounting cycle to apportion earnings and outlays to the appropriate period.
Interim Periods
Monthly or quarterly accounting time periods.
Annually
Occurring once every year.
Income Summary Account
An account used in the closing process to summarize the period's revenues and expenses before transferring the net income or loss to retained earnings.
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