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Luden [163]
3 years ago
5

The closing entry process consists of closing:A)all asset and liability accounts.B)out the Retained Earnings account.C)all perma

nent accounts.D)all temporary accounts.
Business
1 answer:
allochka39001 [22]3 years ago
8 0

Answer:

D.) All the temporary accounts

Explanation:

The closing entry process closes or "zeroes out" the temporary accounts and transfer their balances to the retained earnings account.

Theses temporary accounts are closed or reset at the end of every year. Companies also call this as the closing of the books.

Temporary accounts includes:

1. Revenue & Gain Accounts

2. Expenses & Losses Accounts

3. Dividends & Withdrawal Accounts

4. Income Summary accounts (if used)

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Neko [114]

Based on the fact that Kim's flowers borrowed the money and used it to buy a new delivery vehicle, this business activity should be categorized as both a financing activity and an investing activity.

<h3>What should they classify this business activity as?</h3>

Because Kim's Flowers got the money as a loan, it would be recorded as an inflow for financial activities.

They then used it to purchase a delivery vehicle which is an investment and a capital asset so this will count as an investment activity.

Find out more on classifying business activities at brainly.com/question/14790406

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8 0
1 year ago
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Westkost [7]

Answer:

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Explanation:

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8 0
3 years ago
Who develops the menu in a restaurant?<br> The ________ develops the menu in a restaurant
Airida [17]
The owner is usually the one who developed the menu.
3 0
3 years ago
In their relationship, neither bette nor sam wants to take control or make decisions. this type of relationship is known as a co
yKpoI14uk [10]
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5 0
3 years ago
A firm may pay efficiency wages in an attempt to a. entice workers to work the night shift rather than the day shift. b. improve
BartSMP [9]

Answer:

the answer is: B) improve productivity by reducing turnover.

Explanation:

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8 0
2 years ago
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