ADJUSTING ENTRIES Definition

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ADJUSTING ENTRIES are special accounting entries that must be made when you close the books at the end of an accounting period. Adjusting entries are necessary to update your accounts for items that are not recorded in your daily transactions.

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MEDIUM TERM ASSETS, usually, are those assets that are expected of having a useful life of between six months and two years of the present.

CPE is Continuing Professional Education.

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