Question: How to describe the closing process, Differentiate between permanent and temporary accounts. Outline the four steps in closing journal entries. Explain the importance of the

  • How to describe the closing process, Differentiate between permanent and temporary accounts. Outline the four steps in closing journal entries. Explain the importance of the closing processes. Identify what a post-closing trial balance shows. Compare and contrast a post-closing trial balance and an unadjusted and adjusted trial balance.

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