When Closing Entries Are Made

question 155

Multiple Choice

When closing entries are made:

• A) All permanent accounts are closed but nominal accounts are not closed.
• B) All balance sheet accounts are closed.
• C) All real accounts are closed but nominal accounts are not closed.
• D) All temporary accounts are closed but permanent accounts are not closed.
• E) All ledger accounts are closed to start the new accounting period.

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Definitions:

HR Demand

The organization's projected requirement for human capital.

Personnel Resources

Human capital or workforce available to an organization, including skills, knowledge, and abilities of employees.

HR Shortage

A situation where there is an inadequate supply of human resources or skilled professionals to meet the demands of the job market.

Forecasting

The process of making predictions of the future based on past and present data and analysis, crucial in planning and decision-making.