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How can a change in customers, product lines, and supply chains affect business processes?
Future Events
Instances or occurrences that have not yet happened but are expected or anticipated to occur.
Adjusted Trial Balance
A trial balance taken after adjusting entries have been posted, showing the balances of all accounts including the adjustments for accruals and deferrals.
Adjusting Entries
Journal entries made at the end of an accounting period to update revenue and expense accounts and ensure that the financial statements reflect the accurate financial situation.
Financial Statements
Documents that provide an overview of the financial health of a corporation, including details on assets, liabilities, income, and cash flow, rephrased for a second entry.
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