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.

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Definitions:

Thalamus

A part of the brain that serves as a relay station, transmitting information between different areas of the brain.

Hypothalamus

A region of the brain that coordinates many activities, including temperature regulation, thirst, hunger, and emotional activity.

Diencephalon

The between brain, which integrates sensory and motor information on its way to the cerebral cortex.

Mesencephalon

Also known as the midbrain, it is a portion of the brainstem involved in vision, hearing, motor control, sleep/wake, arousal, and temperature regulation.