Examlex
Which of these does not aid in digestion?
Temporary
In accounting, temporary refers to accounts that are closed at the end of an accounting period, such as revenues, expenses, and dividends.
Forthcoming Year
The approaching or upcoming calendar year.
Long-term Debt
Debt obligations of a business that are due more than one year in the future, often used for large purchases or investments.
Reversing Entries
Journal entries made at the beginning of an accounting period to reverse or cancel out adjusting entries made at the end of the previous period.
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