Most Large Businesses Have ____ Who Maintain Accounting, Human Resources

question 30

Multiple Choice

Most large businesses have ____ who maintain accounting, human resources, and logistic software.

• A)applications specialists
• B)project managers
• C)account managers
• D)business managers

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Definitions:

Closing Entry

An accounting action that transfers the balances from temporary accounts to permanent ones at the end of an accounting period.

Owner's Equity

The residual interest in the assets of an enterprise after deducting its liabilities; represents the owner's claims against the company's assets.

Income Summary

An account to which the revenues and expenses are transferred in order to calculate the net income for the period, ultimately transferring to retained earnings.

Accounting Cycle

The series of steps followed by an entity to collect, process, and report financial information, culminating in the preparation of financial statements for a specific period.