Business, 03.11.2020 16:30 22norvd

The closing process is necessary in order to: Multiple Choice Ensure that all permanent accounts are closed to zero at the end of each accounting period. Ensure that management is aware of how well the company is operating. Calculate net income or net loss for an accounting period. Ensure that net income or net loss and dividends for the period are closed into the retained earnings account. Ensure that the company complies with state laws.

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The closing process is necessary in order to: Multiple Choice Ensure that all permanent accounts are...

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