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In a study, Hans found that the length of a prison sentence varied based on the convict's race, social class, and number of prior arrests. What was the dependent variable in his study?
Trial Balance
A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account columns to check the accuracy of the accounts.
Annual Accounting Period
A 12-month period over which a company reports its financial performance, often aligned with the calendar year or fiscal year.
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts and prepare the ledger for the next period.
Financial Statements
Consolidated documents such as the balance sheet, income statement, and cash flow statement that summarize a company’s financial performance.
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