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A program containing a(n) _____ error will run without displaying an error message, but it will not produce the expected result.
Adjusting Entries
Adjusting Entries are journal entries made in accounting records at the end of an accounting period to update accounts for accruals and deferrals not recorded during the period.
Real Account
An accounting record that represents assets, liabilities, and owner’s equity, and is not closed at the end of the accounting period but carried over to the next.
Nominal Account
An account related to income, expenses, losses, or gains—these accounts are closed out to the capital account at the end of an accounting period.
Income Summary
An account to which all income statement account balances are transferred at the end of an accounting period to show the period's profit or loss.
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