The Closing Process Resets ________, ________, and ________ Account Balances

question 158

Short Answer

The closing process resets ________, ________, and ________ account balances to zero at the end of each accounting period.

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Definitions:

Call

An option contract that gives the holder the right, but not the obligation, to buy a specified amount of an underlying asset at a specified price within a specified time.

Put Option

An agreement that grants the holder the option, without the requirement, to sell a predetermined quantity of a fundamental asset at an agreed-upon price during a defined period.

Forward Contracts

Customized contracts between two parties to buy or sell an asset at a specified price on a future date, used for hedging or speculation.

Futures Contracts

Agreements for the future delivery of assets like commodities or securities at a price fixed upon the contract's signing.