If a Company Plans to Continue Business into the Future

question 45

True/False

If a company plans to continue business into the future, closing entries are not required.

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Definitions:

Environmental Factors

External elements including social, physical, and biological aspects, that can influence an individual's health and behavior.

Psychosocial Functioning

An individual's ability to perform social roles in both interpersonal and societal settings, including emotional, social, and psychological capabilities.

Normalization Principle

The concept that individuals with disabilities or mental health issues should be entitled to live a life as close as possible to the norms and values of society.

Deinstitutionalization

refers to the policy of moving mentally ill patients out of state-run institutions and closing those institutions in favor of community-based treatment.