ACCOUNTING TERMS - ACCOUNTING DICTIONARY - ACCOUNTING GLOSSARY
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TRAILING, in time periods, is the most recently completed time period. For example, trailing twelve months would be the twelve-month period which ended on the final day of the last month.
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FREIGHT OUT is the handling, packaging, and shipping costs of product; normally considered a selling cost.
SUMMARY ACCOUNT is a ledger account (such as a control account) whose balance represents the total of other account balances.