There are different ways to make entry in a balance sheet. It is obvious that an error occurred in the preparation and/or posting of closing entries, if all balance sheet accounts have zero balances.
<h3>Should a balance sheet always have a zero balance?</h3>
Note that the sum of a company assets, liabilities and equity must always balance to zero.
For one to be able to have or generate a balance sheet report that is not equal zero, the balance sheet is said to be out of balance and this may create an error in the ledger transactions.
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Answer:
nonprofit distributing
Explanation:
Based on the scenario being described within the question it can be said that the board members are practicing nonprofit distributing. This term refers to an organizational structure in which the profit the organization makes is reinvested in services to grow the business as opposed to being distributed to the shareholders. Which is what the company in this scenario is doing by using the money they have made in order to hire a new skillfull CEO.
Answer:
Amount of a product people purchase at various prices. ... There exists an inverse relationship between price and quantity demanded. As the price of a good or service goes up, the number sold (quantity demanded) goes down. As the price of a good or serve goes down, the number sold (quantity demanded) goes up.
