Closing Entries Are Dated in the Journal as of

question 56

Multiple Choice

Closing entries are dated in the journal as of

• A) the date they are actually journalized, although they are generally prepared after the end of the accounting period
• B) the last day of the accounting period
• C) the first day of the accounting period, although they are actually journalized well after the beginning of the accounting period
• D) the first day of the subsequent accounting period

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Definitions:

Virtue Ethics

The view that the central feature in the evaluation of people and their actions should be the character of the agent. Aristotle’s ethics are often described as a form of virtue ethics.

Care Ethics

A normative ethical theory that emphasizes interpersonal relationships and care or benevolence as a virtue in moral decision-making.

Morality

A system or code of conduct and principles that guides individual or societal judgments about what is right and wrong, good and bad.

Ethical Relativism

The belief that morality is not universal and that ethical truths depend on the cultural, social, or individual context.