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Double-loop learning involves changing the organization's culture.
Closing Entries
Journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts and prepare the company's accounts for the next period.
Stockholders' Equity
The residual interest in the assets of a corporation after deducting liabilities, often referred to as shareholder's equity or owner's equity.
Financial Statement
A formal record of the financial activities and position of a business, individual, or other entity, typically including the balance sheet, income statement, and statement of cash flows.
Income Statement
A financial statement that reports a company’s financial performance over a specific accounting period, showing income, expenses, and net profit or loss.
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