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Describe the three sources from which performance data is commonly obtained.
Utilities Expense
Utilities Expense refers to the cost incurred from the consumption of utilities services like electricity, water, and gas in the course of business operations.
Post-Closing Trial Balance
A list of all accounts and their balances after closing entries are made, verifying the equality of debits and credits.
Balance Sheet
A financial statement that displays the assets, liabilities, and shareholders' equity of a company at a specific point in time, showing the balance of income and expenditure over the preceding period.
Income Statement
A financial report that shows a company's revenues, expenses, and net income over a specific period, indicating financial performance.
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