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adelina 88 [10]
3 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]3 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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D is because 5 - 20 is 15 simple
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Xavier is using a query that includes a LIKE comparison operator with the value of A[a-n]*. Which option would match this operat
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3 years ago
Read 2 more answers
On the average, how much would you expect to win by playing the following game? A 50% chance to win $2000, a 30% chance to lose
stich3 [128]

Answer:

Average expected chance of winning = $300

Explanation:

Average expectation to win shall be computed as follows

Chance to win = 50% of $2,000 = $1,000

Less: Chance of losing = 30% of $1,000 = -$300

         Chance of losing = 20% of $2,000 = -$400

This is basically computed with the help of probability distribution provided, and adding the entire products.

Average expected chance of winning = $1,000 -$300 - $400 = $300

8 0
3 years ago
Peter, has discovered another wine, wine D. Wine drinkers are willing to pay 45 dollars to drink it right now. The amount that w
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Answer:

e. 71 dollars

Explanation:

Peter was willing  to but the wine for $45

In a year, there is an increase of $15 = $45 + $15 = $60

The interest rate of 10% of $60 = $6

Total = $66 ~ $70

Therefore, the amount he is willing to pay for the win if he buys it as investment would be 71 dollars.

6 0
3 years ago
Kiley Corporation had these transactions during 2022. Analyze the transactions and indicate whether each transaction is an opera
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Answer:

A. Noncash investing and financing activities

B. Financing activities

C. Noncash investing and financing activities

D. Financing activities

Explanation:

To Analyze the transactions and indicate whether each transaction is AN OPERATING ACTIVITY, INVESTING ACTIVITY, FINANCING ACTIVITY, OR NONCASH INVESTING AND FINANCING ACTIVITY

A. Based on the information given the transaction is a NONCASH INVESTING AND FINANCING ACTIVITIES

B. Based on the information given the transaction is a FINANCING ACTIVITIES

C. Based on the information given the transaction is a NONCASH INVESTING AND FINANCING ACTIVITIES

D.Based on the information given the transaction is a FINANCING ACTIVITIES

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3 years ago
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