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5 Cards in this Set
- Front
- Back
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Accounting Cycle |
The series of accounting activities included in recording financial information for a fiscal period |
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Closing Entries |
Journal Entries Used to prepare temporary accounts for a new fiscal period |
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Permanent Accounts |
Accounts used to accumulate information from one fiscal period to the next |
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Post-Closing Trial Balance |
A trial balance prepared after the closing entries are posted |
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Temporary Accounts |
Accounts used to accumulate information until it is transferred to the owner's capital account. |
