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Most firms exist to make a profit.
Adjusting Entries
At the end of a financial period, entries are made in the books to correctly allocate profits and outlays to the period they belong to.
Inter-Relationship of Accounts
The connection and impact that different financial accounts have on each other within the accounting system.
Operations
The day-to-day activities involved in running a business that are necessary for producing and delivering its goods and/or services to the market.
Adjusting Entries
Journal entries made at the end of an accounting period to allocate income and expenses to the period in which they actually occurred.
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