Closing Entries

question 33

Multiple Choice

Closing entries

• A) need not be journalized since they appear on the worksheet.
• B) need not be posted if the financial statements are prepared from the worksheet.
• C) are not needed if adjusting entries are prepared.
• D) must be journalized and posted.

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Definitions:

Team Goals

Objectives set by a group of individuals working together, which are intended to guide and motivate the team towards common achievements.

Task Activities

The specific actions or work carried out by individuals or groups to achieve a particular goal or task.

Team Performance

The measure of how well a group of individuals works together to achieve common goals and objectives.

Performance Purpose

The goal or objective that an individual or organization aims to achieve through their actions or performance.