Closing entries are necessary for temporary accounts only.
A closing entry involves shifting data from temporary accounts on the income statement to permanent accounts on the balance sheet. This closing entry is a journal entry which is made at the end of the accounting period.
The temporary accounts include expenses, revenue, dividends, and so these accounts are to be closed at the end of the accounting year. Thus, the purpose of closing entry is to reset the temporary account balances to zero on the general ledger.
Hence, temporary accounts are used to record accounting activity during a specific period of time.
To learn more about closing entries here:
brainly.com/question/28199222
#SPJ4
Answer:
Differential pricing
Explanation:
Differential pricing , also known as discriminatory pricing is a pricing strategy in which the same product are sold to different customers at different prices.It enables companies to take advantage of unique customers valuation.
Even though is mostly seen as a legal way of pricing just like the other pricing methods , but in a situation where it is biased towards a category of people because of their tribes , gender religion other discriminatory factors , it becomes an illegal act.
Answer:
C. Owners have limited liability for debt
Answer:
They include;
1. Customer Satisfaction
2. Absenteeism
3. Legal Compliance
4. Performance
5. Training
Explanation:
The Human Resource Management criteria that are used to measure the effectiveness or ineffectiveness of an organization, are a list that gives an idea of how an organization is performing, and this list can serve as a basis of comparison with other organizations. These options include;
1. Satisfaction: If the employees are treated fairly and so, feel satisfied with the organization, then they can be said to be effective.
2. Absenteeism: When workers are always absent from work it does not present the organization as an effective one.
3. Legal Compliance: The organization must be able to comply to government rules and regulations guiding the business to be rated as effective.
4. Performance: High or low-performance which is reflected in the turnover rates would be an indication of how effective or ineffective an organization is.
5. Training: The organization should be able to provide regular standard training for its workers to be rated as effective.
It involves processing speech with focused attention.
