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Which of the following statements regarding the cell- cycle control system is false?
Final Entries
Journal entries made at the end of an accounting period to prepare accounts for the next period or close the books.
Journalizing
The process of recording a transaction in the journal.
Adjustments and Closing Entries
The journal entries made at the end of an accounting period to allocate income and expenditures to the appropriate periods.
Ledger
A book or database in which financial transactions are recorded, organized by account.
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