Examlex
Refer to the following frequency distribution of days absent during a calendar year by employees of a manufacturing company: How many employees were absent for 3 up to 6 days?
Journalized
The process of recording transactions in a journal before they are posted to the general ledger in accounting.
Income Summary Account
A temporary account used in the closing process that aggregates all income and expense accounts to determine net income or loss for a period.
Permanent Account
An account in the general ledger that carries its ending balance over to the next accounting period, such as assets, liabilities, and equity accounts.
Balance Sheet
A balance sheet is a financial statement that provides a snapshot of a company's financial condition at a specific time, summarizing its assets, liabilities, and shareholders' equity.
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