What are closing entries? Why are they needed? Name the type of accounts (a) required to be
Question:
What are closing entries? Why are they needed? Name the type of accounts
(a) required to be closed and
(b) not required to be closed.
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Closing entries are journal entries made at the end of an accounting period to transfer temporary ac...View the full answer
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Related Book For
Management Accounting Text Problems And Cases
ISBN: 9781259026683
6th Edition
Authors: M Y Khan, P K Jain
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