Closing process: The accounting information of business is recorded based on an accounting period. So at the end of the accounting period, all the temporary accounts are closed and made zero in order to be ready for the next accounting period. To determine: Determine the term closing process?

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Chapter 4, Problem 12RQ

To determine

Closing process:

The accounting information of business is recorded based on an accounting period. So at the end of the accounting period, all the temporary accounts are closed and made zero in order to be ready for the next accounting period.

To determine:

Determine the term closing process?

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