Closing Revenue and Expense Accounts at the End of the Accounting

question 147

True/False

Closing revenue and expense accounts at the end of the accounting period serves to make the revenue and expense accounts ready for use in the next period.

---

Definitions:

Health Policies

Regulations and guidelines developed to influence and guide public health decisions and actions.

Mid 19Th Century

Refers to the period roughly between 1850 and 1865, a time frame in the 1800s.

Social Reformers

Individuals or groups who advocate for changes in society to address injustices and inequalities.

Avoidable Social Causes

Avoidable social causes are factors within society that can be prevented or altered through changes in policies, practices, or awareness, to reduce negative outcomes.