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adelina 88 [10]
2 years ago
14

Why does a company need to close its accounting books? Select one: a. Training in the system is finished. b. Storage space is li

mited. c. Companies need to zero out certain accounts to start anew for the next period. d. Certain financial statements take too much time.
Business
1 answer:
Illusion [34]2 years ago
5 0

Answer:

Correct option is (c)

Explanation:

Organizations empty all temporary accounts at the end of the year and transfer the balance to retained earnings. Permanent accounts on the contrary, are not closed at the end of the year. They are carried forward to the next year.

As such, companies need to close accounting books at the end of the year as these temporary accounts are closed. Some temporary accounts are revenue and expenses.

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Why do governments regulate natural monopolies? To allow only certain consumers to have access to goods and services To have acc
Sav [38]
The answer to this would be the 4th option. Because monopolies allow businesses to compete against each other for profit and reputation. Without monopolies, people would only choose one company over the other because it just is more superior. Monopolies is what make businesses grow, and unfortunately, they aren't a good thing at times.
3 0
2 years ago
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As people become more powerful, they tend to become less goal-oriented, less motivated, and more focused on gaining additional p
Tanya [424]

Answer: False

Explanation:

The statement that as people become more powerful, they tend to become less goal-oriented, less motivated, and more focused on gaining additional power is false.

When people become more powerful, such people become motivated to achieve organizational aims and achieve greater things. Also, they become more empowered which helps in increasing their job satisfaction and morale.

5 0
3 years ago
Congratulations! You just graduated with a degree in management. As you reflect on your school experience, you make a list of th
suter [353]

Answer: After each semester, you asked your adviser to review your progress to ensure you remained on track for your anticipated graduation

Explanation:

Efficiency has to do with one's ability to achieve a particular goal while avoiding wastage. One who does something efficiently, does that particular thing sufficiently.

The option that relates to efficiency is option D "After each semester, you asked your adviser to review your progress to ensure you remained on track for your anticipated graduation date".

This brings about efficiency as one is on track to achieving a goal.

8 0
2 years ago
Concord Corporation developed the following information about its inventories in applying the lower-of-cost-or-net-realizable-va
scZoUnD [109]

Answer:

the value of the inventory reported is $280,000

Explanation:

The computation of the inventory reported on the balance sheet is shown below:

As we know that the inventory should be recorded at lower cost of cost or market value. So here the same is applied

= Lower amount of market A +  Lower amount of market B +  Lower amount of market C

= $91,000 + $61,000 + $128,000

= $280,000

hence, the value of the inventory reported is $280,000

3 0
3 years ago
Which one of the following does not work to make a resume scanner friendly?
Arada [10]

A) Personal traits shown in nouns not verbs.

Businesses look for actions you took, so instead of saying you were a journalist (noun) on the student newspaper, say you <em>researched </em>topics, <em>published </em>articles, and <em>edited </em>documents. All of these are action verbs and help the employer know what you can do.

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3 years ago
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