Examlex
_____ guide behavior and specify what employees are to do when they confront a problem that needs a solution.
Ending Inventory
is the total value of goods available for sale at the end of an accounting period after accounting for all additions and subtractions during the period.
Operating Expenses
Expenses incurred during the normal functioning of a business, excluding the cost of goods sold; these can include salaries, rent, utilities, and marketing expenses.
Closing Entries
journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, thereby preparing the accounts for the next period.
Capital Account
A financial statement that shows the changes in a company's equity throughout an accounting period, including contributions from and distributions to owners.
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