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Discuss the four components of an external environmental analysis.
Retained Earnings
Retained earnings refer to the portion of net income which is retained by the corporation rather than distributed to its owners as dividends.
Closing Entries
Closing entries are journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts, preparing the books for the next period.
Closing Entry
A journal entry made at the end of an accounting period to transfer temporary account balances to permanent accounts.
Revenue Accounts
Revenue accounts are those used in accounting to track the income generated by a business from its normal operations.
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