Question: The formal process by which the enterprise reduces all nominal accounts to zero is the definition of Select one: a. closing account b. closing entries

 The formal process by which the enterprise reduces all nominal accounts

The formal process by which the enterprise reduces all nominal accounts to zero is the definition of Select one: a. closing account b. closing entries c. deleting account d. accounts shifting

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!