Business, 02.03.2020 23:00 shyyyy13

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

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The closing process is necessary in order to: multiple choice ensure that net income or net loss and...

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