HARMONIZED SYSTEM Definition

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HARMONIZED SYSTEM is an internationally agreed upon classification system for trade. It provides code numbers to specify a goods classification; thereby making customs duty determination more predictable.

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WORKING TRIAL BALANCE is similar to the trial balance. Additionally, it contains columns for adjusting entries and the adjusted balance. This report is typically used at year-end to assist in making adjusting entries.

TI could mean, among others, Total Income or Tenant Improvements.

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