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olya-2409 [2.1K]
3 years ago
15

The closing process is necessary in order to: Multiple Choice Ensure that all permanent accounts are closed to zero at the end o

f each accounting period. Ensure that management is aware of how well the company is operating. Calculate net income or net loss for an accounting period. Ensure that net income or net loss and dividends for the period are closed into the retained earnings account. Ensure that the company complies with state laws.
Business
1 answer:
sp2606 [1]3 years ago
8 0

Answer:

d. Ensure that net income or net loss and dividends for the period are closed into the retained earnings account.

Explanation:

Temporary accounts are closed at the end of accounting period so that net income, net loss and dividends for the period are closed into retained earnings account.

All the expenses and gains or income of kind accounts must be closed at the end of the year and in order to close them, they are transferred to either Trading Account or profit and loss Account.

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C. Current status and intermediate goals
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kayo initiates and encourages innovation, fixes unforeseen problems, sets priorities about the use of resources, and works with
aleksandr82 [10.1K]

Kayo initiates and encourages innovation, fixes unforeseen problems, sets priorities about the use of resources, and works with others to accomplish organizational goals. together, these responsibilities comprise a decisional type of managerial role.

<h3>What is the Decisional managerial role?</h3>

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To know more about the Decisional managerial role go to the given link:brainly.com/question/14529237

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8 0
2 years ago
A house is closed on April 15. The property taxes are $960 for the year. They have not been paid. How much does the buyer receiv
Scilla [17]

Answer:

Explanation:

divide the total taxes 960 by 365 (number of days in the year) to get per day tax which is 2.63$. Days from 1 January to April 15 are 105, these 105 days times 2.63$ =276.15.

so, now we have calculated the amount of taxable by seller at closing date and buyer will receive the same from seller i.e 276.15 $ .

4 0
3 years ago
A(n) _____ organization is characterized by a relatively low degree of job specialization, loose departmentalization, few levels
lbvjy [14]

Answer:

organic

Explanation:

Based on the information provided within the question it can be said that the type of organization that is being described is called an organic organization. This is a type of organization that is extremely flexible, thus allowing it to easily adapt to changes in it's environment. Such aspects as the ones described in the question allow an organization to become flexible.

3 0
3 years ago
Read 2 more answers
Pine Street Inc. makes unfinished bookcases that it sells for $58.10. Production costs are $37.49 variable and $10.50 fixed. Bec
love history [14]

Answer:

Pine Street should sell  finished bookcases because they have a higher contribution margin.

Explanation:

We compare the contribution margin of the two categories to find out whether Pine Street should sell unfinished or finished bookcases.

Pine Street Inc.

Unfinished bookcases

Contribution Margin

Sales Price                                         $58.10

Less  Production costs

Variable Costs  $37.49

<u>Fixed Costs $10.50                         (47.99)</u>

<u>Contribution Margin                      $ 10.11</u>

Pine Street should sell  finished bookcases because they have a higher contribution margin. It is almost double of the unfinished book cases contribution margin.

Pine Street Inc.

Finished bookcases

CONTRIBUTION MARGIN

Sales Price                                                                 $74.91

Less Production costs

Variable Costs  $37.49 + $5.79 = $ 43.28

<u>Fixed Costs $10.50                                                     $ (53.78)</u>

<u>Contribution Margin                                               $ 21.13</u>

4 0
3 years ago
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