Bringing Account Balances Up to Date Before Preparing Financial Reports

question 25

Multiple Choice

Bringing account balances up to date before preparing financial reports is called:

• A) posting.
• B) adjusting.
• C) journalizing.
• D) closing.

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Definitions:

United States

A country primarily located in North America, consisting of 50 states, a federal district, five major self-governing territories, and various possessions.

Israel

A country in the Middle East, established in 1948, known for its historical and religious significance.

World Bank

An international financial institution that provides loans and grants to the governments of poorer countries for the purpose of pursuing capital projects.

Development Aid

Financial and technical assistance provided by governments or international institutions to support the economic, environmental, social, and political development of developing countries.