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Closing Entries Are Unnecessary If the Business Plans to Continue

question 90

True/False

Closing entries are unnecessary if the business plans to continue operating in the future and issue financial statements each year.


Definitions:

Culturally Sensitive

Having an awareness of, and respect for, the differences in cultures and beliefs, especially in professional practices.

Significance

The quality of being worthy of attention; importance, meaning, or relevance of something.

Environmental Factors

Elements within the surroundings that can influence health outcomes, including pollution, climate, and urbanization.

Subculture

A cultural group within a larger culture, often with beliefs or interests distinct from those of the larger culture.

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