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Closing entries are necessary at the end of each period to: Multiple Croice Ensure that the company complies with state laws. Calculate met income orner
Closing entries are necessary at the end of each period to: Multiple Croice Ensure that the company complies with state laws. Calculate met income orner loss for an accounting period. Ensure thet management is aware of how well the company is operating Ensure thet all permenent accounts are closed to zero at the end of each accounting period. Ensure that temporary account begin each period with zero belances.
Closing entries are necessary at the end of each period to: Multiple Croice Ensure that the company complies with state laws. Calculate met income orner loss for an accounting period. Ensure thet management is aware of how well the company is operating Ensure thet all permenent accounts are closed to zero at the end of each accounting period. Ensure that temporary account begin each period with zero belances.
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