Examlex
Which of the numbered features is a lahar?
Closing Entries
These are journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts.
Income Statement
A financial statement that reports a company's revenues, expenses, and profits over a specific period, showing how net income is derived from business operations.
Adjusted Trial Balance
A list of all accounts and their balances after adjustments, used to prepare financial statements.
End-of-period Spreadsheet
A tool used for adjusting and closing entries and for preparing financial statements at the end of an accounting period.
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