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What defines the FDA's de minimis rule?
Adjusting Entries
Records made in the journal at the period's end to correctly allocate income and expenditure to the period of their occurrence.
Adjusted Trial Balance
A list of all the accounts and their balances after adjustments are made for revenues and expenses, used to prepare financial statements.
Financial Statement Column
A column in a financial statement that categorizes financial data, such as assets, liabilities, revenues, or expenses, to help analyze financial health.
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts and prepare the accounts for the next period.
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