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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EARNING ASSET is an asset which provides income (e,g, rental property).

YELLING MARKETS refers to markets where transactions involve the yelling of prices and quantities during the transaction.

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