Closing Entries

question 91

Multiple Choice

Closing entries:

• A) are made at the beginning of each accounting period.
• B) prepare the accounts for the next period's transaction.
• C) cannot be done using a computer.
• D) are the same as adjusting entries.

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Definitions:

Traits

Characteristic patterns of behavior, thought, or emotional experience that are relatively stable across time and situations.

Complementary

Refers to things that combine in such a way as to enhance or emphasize each other's qualities, or the use of alternative therapies alongside conventional treatments in medicine.

Proximal

Referring to something that is close in distance, time, or relationship.

Rewarding

Describes an experience, activity, or behavior that provides satisfaction, enjoyment, or a sense of achievement.