Closing the Accounts Refers To

question 40

Multiple Choice

Closing the accounts refers to:

• A) establishing zero balances in the balance sheet accounts.
• B) establishing a zero balance in the cash at bank account.
• C) establishing zero balances in all ledger accounts.
• D) transferring income and expense account balances to the profit or loss summary account, which is then closed to the equity account.

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Definitions:

Integrative Health Care

A holistic approach to medicine that combines conventional medical treatments with alternative therapies to treat the patient's mind, body, and spirit.

Case Management

A method for delivering nursing care in which the nurse is responsible for a case load of clients across the health care continuum.

Care Continuity

The consistent and seamless provision of healthcare services to a patient across multiple healthcare settings and over time.

Forensics Nurse

A nursing specialty that applies medical knowledge to legal investigations, particularly in the care of assault victims and the collection of forensic evidence.