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Alan wants to upgrade his look before a job interview. A friend tells him about a men's clothing line that allows potential customers to virtually try on suits and see what looks best. It even offers an interactive "custom fit" feature. After checking out his options, Alan takes his measurements and orders a suit without ever leaving his office. Virtually trying on a suit best describes where provides was which of the 4E frameworks?
Adjusted Trial Balance
A financial statement listing all the accounts and their final balances after all adjustments have been made.
Closing Entries
At the end of an accounting cycle, transactions are recorded to shift balances from provisional accounts to lasting accounts.
Post-closing Trial Balance
A summary of all account balances after closing entries are made, used to check the balance of debits and credits.
Adjusted Trial Balance
A list of all accounts and their balances after adjusting entries are made, used in the preparation of financial statements.
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