Examlex
Match the options below with the correct phrases:
-management
Financial Statement(s)
Reports summarizing the financial performance, position, and cash flows of a business over a specified period, including balance sheet, income statement, and cash flow statement.
Permanent/Temporary
Defines classifications of accounts in accounting where permanent accounts refer to balance sheet items that carry over into the next fiscal period, while temporary accounts are closed at the end of each accounting period.
Normal Balance
The side (debit or credit) of an account that is expected to have a higher balance, indicating the account’s increase.
Financial Statement(s)
Comprehensive reports created to present a company's financial performance, financial position, and cash flows over a specific period.
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