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Journalizing and Posting Closing Entries Is a Required Step in the Accounting

question 77

Essay

Journalizing and posting closing entries is a required step in the accounting cycle. Explain why it is necessary to close the books at the end of an accounting period.


Definitions:

Dendrites

The branched projections of a neuron that act to conduct the electrochemical stimulation received from other neural cells to the body, or soma, of the neuron.

Neural Impulse

The electrical signal that travels along a neuron, facilitating communication between the brain and other parts of the body.

Electrical

Pertaining to the technology, phenomena, or physical laws related to electric charges and their interactions.

Acetylcholine

A neurotransmitter in the nervous system that plays a key role in muscle activation and also influences many functions in the brain, including memory and learning.

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