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Trial Balance. Unearned Revenue. Accumulated Depreciation. Worksheet. Examples temporary accounts that need to be closed at the end of the year. Owner’s Equity. Current Liability. Consistency Principle. Full Disclosure Principle. Ordinary repairs. List of all accounts and their balances.
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Examples temporary accounts that need to be closed at the end of the year
States that businesses should use the same accounting method period to period
States businesses must provide enough information for outsiders to make knowledgeable decisions about the company
Helps accountants:prepare financial statementsclose accountsmake adjusting entries