Closing Entries Are Prepared

question 43

Multiple Choice

Closing entries are prepared:

• A) to clear all temporary accounts to zero.
• B) to update the Capital balance.
• C) at the end of the accounting period.
• D) All of the above are correct.

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Definitions:

Motivating Behavior

The factors or incentives that drive an individual to act or behave in a certain way.

Innate Motivators

Internal drives that exist from birth, influencing behavior without the need for external rewards.

Latent Learning

Learning that occurs without any obvious reinforcement of the behavior or associations that are learned.

Reinforcement

In behavioral psychology, a process in which a behavior is strengthened by the consequence that follows it, making it more likely to be repeated.