To Close Income and Expense Accounts, You Enter a Closing

question 10

True/False

To close income and expense accounts, you enter a closing date in QuickBooks Online.

---

Definitions:

Board Of Directors

A group of individuals elected to represent shareholders or members, responsible for governing an organization's activities, setting strategic direction, and making major decisions.

Leadership Styles

The various approaches and strategies used by leaders to motivate, guide, and manage teams, ranging from authoritarian to democratic to transformational methods.

Contingency Theory

A leadership theory that suggests the effectiveness of a leader is determined by how well their leadership style matches the current situation.

Servant Leadership

A leadership philosophy in which the main goal of the leader is to serve. This is different from traditional leadership where the leader's main focus is the thriving of their company or organizations.