Examlex
Match each definition to the corresponding term.
-Concept
Liabilities
Financial obligations or debts that a company owes to others, which must be settled over time through the transfer of economic benefits.
Fees Earned
Income earned from providing services before receiving payment.
Rent Revenue
Income earned from leasing out property or space to tenants.
Year-End Closing Process
The series of steps taken by businesses at the end of an accounting year to close out books, including reconciling accounts and preparing financial statements.
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