What is a “closing balance?” a.

The amount of money you have at the end of the statement period
b.

The amount of money you have when you close your account
c.

The amount of money you owe at the end of the statement period
d.

The amount of money waiting to be transferred out of your account

A closing balance is an amount of funds your business has at the end of a particular chosen accounting period — a day, a month, a quarter or a year. Once you calculate the closing balance, you pass it on the next accounting period and the figure becomes the opening balance for that period.

Explanation:

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explanation:

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