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:

Technical Term

Specialized vocabulary used in a particular field or profession, often to convey complex concepts succinctly.

Coitus

The insertion of the penis into the vagina and (typically) pelvic thrusting.

Penile-Vaginal Intercourse

Sexual activity involving the insertion of the penis into the vagina.

Female Genitals

Female genitals refer to the external and internal reproductive organs of a female, including the vulva, vagina, cervix, uterus, and ovaries.