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(also called book year, financial year or financial period) specific period used for calculating profit (usually 12 months).
General Journal entry to close off nominal accounts for the accounting period.
moral principles or rules of behaviour for deciding what is right or wrong, or good or bad
(also called profit margin) the percentage the business adds to the cost price in order to reach...
subsidiary ledger in which the business records the details of the account of each creditor....