Examlex
Cones are cone-shaped,light-sensitive receptor cells that are responsible for sharp focus and color perception,particularly in bright light.
Adjusting Entry
A journal entry made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.
Unadjusted Trial Balance
A list of all the accounts and their balances from the general ledger before any adjusting entries are made.
Gross Profit
The difference between sales and the cost of goods sold.
Periodic Inventory Method
An accounting approach where inventory is physically counted at specific intervals to determine the cost of goods sold and ending inventory levels.
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