What would be an example of informal performance appraisal?

The preparation of closing entries:

a. is an optional step in the accounting cycle. b. results in zero balances in all accounts at the end of the period so that they are ready for the following period's transactions. c. is necessary before financial statements can be prepared. d. results in transferring the balances in all temporary accounts to Retained Earnings.

Why is it important to perform risk analysis before accepting or rejecting major projects?

What will be an ideal response?