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Question 3 3 pts 1. An account is an general ledger record used only at year-end to accumulate all revenue and expense balances, and to
Question 3 3 pts 1. An account is an general ledger record used only at year-end to accumulate all revenue and expense balances, and to reduce their general ledger accounts to at the end of the fiscal year. This account summarises the income (or net loss) for the year. It is closed to the Retained Earnings account at year-end
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