____________________ Determines Whether the Project Makes Financial Sense and Whether

question 79

Short Answer

____________________ determines whether the project makes financial sense and whether predicted benefits offset the cost and time needed to obtain them.

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Definitions:

Closing Entries

Journal entries made at the end of an accounting period to transfer the balances of temporary accounts to permanent accounts, preparing the accounts for the next period.

Merchandising Business

A type of business that purchases goods and sells them to consumers without changing their form.

Service Business

A business that provides intangible products or services to customers, often involving skilled labor or professional expertise.

Gross Profit

The difference between revenue and the cost of goods sold, before accounting for certain other costs such as operating expenses.