In Japan, the Principal Source of the Active Monitoring of Large

question 7

Multiple Choice

In Japan, the principal source of the active monitoring of large companies comes from:

• A) boards of directors.
• B) stock brokerage companies.
• C) the government.
• D) banks.

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Definitions:

Journalize Closing Entries

The process of recording year-end closing entries in the journal to prepare the accounts for the next fiscal period.

Adjusting Entries

Entries made in the accounting records at the end of an accounting period to allocate income and expenditures to the period in which they actually occurred.

Post-Closing Trial Balance

A listing of all company account balances after end-of-period adjustments and closing entries have been made, used to check the balance of debits and credits.

Adjusted Trial Balance

A listing of all company accounts that will appear on the financial statements after adjustments have been made for errors, accruals, and deferrals.