____________________,Sales Representatives of Manufacturers and Wholesalers,are Usually Hired on a Commission

question 68

Short Answer

____________________,sales representatives of manufacturers and wholesalers,are usually hired on a commission basis.

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Definitions:

Post-closing Trial Balance

A list of all company accounts that remain after adjusting and closing entries are made, used to ensure debits equal credits.

Trial Balance

A summary listing of the titles and balances of accounts in the ledger.

Drawing Account

An account used to record amounts withdrawn by the owner of a business for personal use.

Closing Entry

Journal entries made at the end of an accounting period to transfer balances from temporary accounts to permanent ones, preparing for the next period.