Why are personnel changes, such as the resignation or retirement of employees, not reflected in the accounting cycle? O Such events do not affect the company's nominal accounts and therefore can never be closed out once entered into the cycle. O Such events are not of interest to stockholder's and so do not have to be reflected by financial statements. O Such events are posted to subsidiary ledgers rather than the general ledger, and these ledgers are not involved in the cycle. O Such events do not affect the assets, liabilities, or equity of a company, making their financial impacts difficult to measure.

Why are personnel changes, such as the resignation or retirement of employees, not reflected in the accounting cycle? O Such events do not affect the company's nominal accounts and therefore can never be closed out once entered into the cycle. O Such events are not of interest to stockholder's and so do not have to be reflected by financial statements. O Such events are posted to subsidiary ledgers rather than the general ledger, and these ledgers are not involved in the cycle. O Such events do not affect the assets, liabilities, or equity of a company, making their financial impacts difficult to measure.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Similar questions

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