The entries that transfer the balances of the temporary owner's equity accounts to the permanent owner's equity account are called
a. adjusting entries.
b. closing entries.
c. reversing entries.
d. general journal entries.
b
You might also like to view...
If the most optimistic time for completing an activity is 3, the most likely time is 4, and the most pessimistic time is 11, then the estimated time for the activity is ______.
A. 5 B. 4 C. 6 D. 9
The HR department calculates the _______________ when determining the time that it took for them to fill a position.
A. yield ratio B. time to hire C. cost per hire D. return on Investment E. new hire ratio
Weekly demand for avocados at the Guac Shop is normally distributed with a mean of 2500 and a standard deviation of 650
The store manager has decided to follow a periodic review policy to manage inventory of avocados. They plan to order every two weeks. The farmers currently take two weeks to fill an order. Given a desired CSL of 97.5 percent, how much safety inventory should the Guac Shop carry? What should their OUL be? What will be an ideal response?
Jessica offered to sell her antique dresser to Brenda. Brenda accepted the offer. The agreement, however, did not state a price. Under the UCC, as long as the parties intended to make a contract, the court will enforce the agreement. The price will be the reasonable price for the dresser
Indicate whether the statement is true or false