Question: Why should you set a closing date for your file after you have closed an accounting period? A. Because without a closing date, the system

Why should you set a closing date for your file after you have closed an accounting period?

A. Because without a closing date, the system will not save transactions to the correct period.

B. Because the file will require it before you can generate any reports.

C. To determine the fiscal year for the business.

D. To limit changes to past saved entries.

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