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.

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7 0

2 years ago

Although marketing theory supports the contrary, it is more probable that marketing budgets will be cut during periods of econom

Firdavs [7]

Answer:

Letter c is correct. Recession.

Explanation:

A recession corresponds to a contraction in the economy over a period of time, there is a drop in production and consumption, rising unemployment, falling profitability, falling family income and others. It can be measured by levels of productivity, employment, consumption and other variables.

However, when there is a recession in a country, it is normal for spending to be cut, including a reduction in the marketing budget, because the period is not favorable for consumption, so companies cut spending in various areas because there is a risk of falling revenues.

Although recession marketing is common, studies show that companies that maintain or increase advertising ensure increased sales and participation during and after the recession. This can occur for a variety of reasons, as brands can provide consumers with an image of stability in the midst of crisis, which improves brand reliability. There is also a decrease in advertising costs, and the possibility of the company winning market, because it is important that the company has an active voice in making ads regardless of the economic situation.

3 0

3 years ago

The staffing system components model says that the phases of the staffing process occur in which order after the initial interac

olya-2409 [2.1K]

Answer:

Recruitment, selection ,employment

Explanation:

The staffing system components model occur in this stage that is Recruitment, Selection, Employment , after the initial interaction between the applicant and the organization .

Staffing refers to filling the empty space or finding the appropriate person for the empty space or job.

The staffing function has three elements which are mentioned below-

1. Recruitment

2. Selection

3. Training

The stages of staffing function are -

1. Estimating man power requirement

2. Recruitment

3. Selection

4. Placement and orientation

5. Training and development

6. Performance Appraisal

7. Promotion and career development

8. Compensation

6 0

3 years ago