Closing Entries Are Required

question 6

Multiple Choice

Closing entries are required:

• A) if management has decided to cease operating the business.
• B) only if the company adheres to the accrual method of accounting.
• C) if a company's bookkeeper forgets to prepare reversing entries.
• D) if the temporary accounts are to reflect correct amounts for each accounting period.
• E) in order to satisfy the Internal Revenue Service.

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Definitions:

Biological Sexism

The inappropriate and unjustified discrimination or differentiation based on biological differences between males and females.

Sexually Transmitted Infections

Conditions that are mainly passed on through sexual interactions, involving various types of microorganisms like viruses, bacteria, and parasites.

Vulnerable

The state of being open to harm, damage, or attack due to various factors such as social, economic, or environmental conditions.

Chlamydia Trachomatis

A common sexually transmitted infection caused by the bacterium Chlamydia trachomatis, often asymptomatic but can lead to significant reproductive health complications if untreated.