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Which of the following is true about perception?
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances from temporary accounts to permanent ones, preparing the books for the next period.
End-of-Period Spreadsheet
A tool, typically in spreadsheet format, used at the end of an accounting period to compile adjustments and prepare financial statements.
Adjusted Trial Balance
A list of all the accounts and their balances after adjusting entries have been made, used to prepare financial statements.
Closing Entries
Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, thereby preparing the temporary accounts for the next accounting period.
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