Temporary Accounts Are Closed Prior to the Start of the Next

question 66

Short Answer

Temporary accounts are closed prior to the start of the next accounting cycle.In this closing process,the amount in each of these accounts is transferred to what account(s)?

---

Definitions:

Organizational Strategy

A plan of action aimed at achieving the long-term goals and overall objectives of an organization.

Introductory Dependent Clauses

Phrases at the beginning of a sentence that cannot stand alone as complete sentences and depend on the rest of the sentence for their meaning.

Independent Clauses

Sentences or parts of sentences that can stand alone as complete thoughts because they have both a subject and a verb.

Indirect Strategy

A communication approach that presents the main point or conclusion after the buildup of supporting details, often used to soften bad news or persuade.