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: Zin AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students

Q

Five people on the basement of a building get on an elevator that stops at seven floors....

Basic Math
Q

Tungsten trioxide (WO3) has a rich yellow color and is often used as a pigment in...

Chemistry
Q

This week we will be discussing issues of race and ethnicity in the early modern period....

Psychology
Q

Grounded theory is a research method that seeks to develop theory that is grounded in data...

Psychology
Q

Suppose you have 3 mats, 35 strips, and 17 units for a total count of...

Basic Math
Q

Use the given table of an exponential function to answer the following questions.X ...

Algebra
Q

if real gdp grows at an annual rate of 4.9% and the population grows at...

Accounting
Q

bathlinks corporation has a debt to assets of 73%. This tells the user of bathlinks's...

Accounting
Q

The comparative statements of Crane Tool SA are presented below. Crane Tool SA Income Statement...

Accounting
Q

The individual financial statements for Gibson Company and Keller Company for the year ending December...

Accounting
Q

Founded by Jamsetji Tata in 1868, the Tata group is a global enterprise, headquartered in...

Accounting
Q

When a business provides services for cash, what is the effect on the accounting equation?...

Accounting