At the End of the Accounting Period,the Balances in the Nominal

question 82

True/False

At the end of the accounting period,the balances in the nominal accounts are closed while the balances in the real accounts are carried forward to the next period.

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Definitions:

High-context

A communication style wherein much of the information is understood from the context rather than stated explicitly in verbal or written form.

Gestures

Movements of the body, particularly the hands or head, used to express ideas or emotions.

Ethnic Subculture

a group within a larger culture that differentiates itself from the larger culture to which it belongs, based on ethnic or cultural identity.

Self-perpetuating

A process or activity that generates the conditions necessary for its continuation or growth without external input.