Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. under which circumstance would one less closing en

under which circumstance would one less closing entry than usual be made a. when net...

50.1K

Verified Solution

Question

Accounting

under which circumstance would one less closing entry than usual be made

a. when net income is zero

b. when revenues have not yet been collected

c. when a net loss has been suffered

d. when the retaied earnings account is zero prior to posting of closing entries

e. none of the above

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Statistics
1.2K views

Use the standard normal table to find the​ z-score that corresponds to the given percentile. If...

Physics
1.2K views

A 1.40 kg block is attached to a spring with spring constant 15.0 N/m. While...

Physics
1.2K views

around the arth such that its minimum and maximum distance from earth s surface are...

Basic Math
1.2K views

Sergio has p paintings in his art collection. He and other local painting collectors agreed...

Algebra
1.2K views

Go step by step to reduce the radical 288

Algebra
1.2K views

7 9 29 19 ng side 16 33 X 55 8 10 12 X 23...

Algebra
1.2K views

Find the relationship between the value of parameter p and the number of solutions of...

Accounting
1.2K views

COLLIER COMPANY I 1. What are the weaknesses inherent...

Accounting
1.2K views

Background Mason Inc. (Mason or the Company) is a U.S. public company that files quarterly...

Accounting
1.2K views

Marlborough Gate Company purchased two trucks on June 30, 2017 for $40,000, Using the straight...

Accounting
1.2K views

Bug Off Corporation, which produces citronella candles, is developing direct material standards. Each candle requires...

Accounting
1.2K views

Explain how you could determine whether Purchasing Power Parity (PPP) exists. Describe a limitation in...