Closing entries are made: a. in order to terminate the business as an operating entity.
b. so that financial statements can be prepared.
c. so that all assets, liabilities, and stockholders' equity accounts will have zero balances when the next accounting period starts.
d. in order to transfer net income (or loss) and dividends to the retained earnings account.

1. gdp is calculated by summing consumption, investment, and exports of all final goods and services produced within the borders of a given country during a specific period the dollar value of all final goods and services produced within the borders of a given country during a specific period government expenditures within the borders of a given country during a specific period the quantity of all final goods and services produced within the borders of a given country during a specific period

Juniper company uses a perpetual inventory system and the gross method of accounting for purchases. the company purchased $9,750 of merchandise on august 7 with terms 1/10, n/30. on august 11, it returned $1,500 worth of merchandise. on august 26, it paid the full amount due. the correct journal entry to record the merchandise return on august 11 is:

Increases in output and increases in the inflation rate have been linked to