Closing Entries

question 164

Multiple Choice

Closing entries:

• A)are made at the beginning of each accounting period.
• B)prepare the accounts for the next period's transactions.
• C)brings all asset account balances to zero.
• D)are the same as adjusting entries.

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Definitions:

Desired Behaviour

The specific actions or reactions that an organization or individual aims to elicit from others, typically to achieve a certain goal or outcome.

Reinforcement Schedule

A pattern that determines how often a desired behavior is reinforced in operant conditioning, influencing how quickly and robustly that behavior is learned.

Negative Reinforcement

A behavioral principle where the removal of an unfavorable outcome or stimulus strengthens a desired behavior.

Operant Conditioning

A learning method that uses rewards and punishments to shape behavior.