Why is it necessary to close the books at the end of the accounting period?
What will be an ideal response?
Temporary accounts — revenues, expenses and dividends - hold amounts for the current accounting period. It is necessary to bring these balances to zero to prepare the accounts for the next period's transactions. The closing process brings the temporary account balances to zero and updates the balance of the Retained Earnings account.
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Albright Corp. uses a set of quantitative tools to assess employee data such as performance, compensation, designations, and benefits. This is done to arrive at decisions based on accurate findings from analyses that can help the firm achieve its goals. Albright is engaging in the practice of _____.
A. training and development B. job design C. employee relations D. talent management E. workforce analytics
Convertible BondsConvertible bonds
a. have priority over other indebtedness. b. are usually secured by a first or second mortgage. c. pay interest only in the event earnings are sufficient to cover the interest. d. may be exchanged for equity securities.