BUISENESS MANAGEMENT
MERCHANDISING
Question
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Changes recorded on a work sheet to update general ledger accounts at the end of a fiscal period.
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adjustments
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net income
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net loss
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trial balance
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Explanation:
Detailed explanation-1: -*Changes recorded on a Work Sheet to update the General Ledger accounts at the end of the fiscal period are called adjustments.
Detailed explanation-2: -An adjusting journal entry is an entry in a company’s general ledger that occurs at the end of an accounting period to record any unrecognized income or expenses for the period.
Detailed explanation-3: -Summary journal entries that represent the results of all transactions for a certain time period are used to update the general ledger.
Detailed explanation-4: -The trial balance is a worksheet on which you list all your general ledger accounts and their debit or credit balance. The total debits must equal the total credits.
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