The Prefix Pre- Means "After;behind

question 210

True/False

The prefix pre- means "after;behind."

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Definitions:

Closing Entries

Closing entries are journal entries made at the end of an accounting period to transfer temporary account balances to permanent accounts.

Capital Account

An account on a national or international level showing the net change in asset ownership for a country, or on a company level, it represents the funds contributed by owners plus retained earnings.

Closed

Closed refers to the status of an account, position, or transaction that has been settled or concluded, with no further action or activity pending.

Utilities Expense

Costs incurred for essential services such as electricity, water, and gas used by a business during an accounting period.