The Department of Justice and the Department of Commerce Are

question 20

True/False

The Department of Justice and the Department of Commerce are part of the executive branch of the government.

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Definitions:

Dividends

Distribution of a portion of a company's earnings, decided by the board, to a class of its shareholders.

Closing Entries

Journal entries made at the end of an accounting period to transfer balances from temporary accounts to permanent accounts, closing out the period.

Retained Earnings

Profits that a company has earned to date, less any dividends or other distributions to shareholders, reinvested in the business or kept as reserve.

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent ones, thus preparing the books for the next period.