What Are the Purposes of Closing Entries? Describe Permanent and Temporary

question 75

Essay

What are the purposes of closing entries? Describe permanent and temporary accounts.

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Definitions:

Child Class

A class in object-oriented programming that inherits properties and behavior from a parent class, also known as a subclass.

Polymorphism

Polymorphism is a concept in object-oriented programming allowing methods to do different things based on the object it is acting upon.

Base Class

In object-oriented programming, a class from which other classes are derived, providing foundational attributes and behaviors.

Derived Class

In object-oriented programming, a class that inherits properties and behavior from a parent class.