Financial reports - Closing
3 important questions on Financial reports - Closing
Where are revenue and expense accounts (temporarily) transferred during the closing process?
Income Summary
How is the Dividends account closed?
Straight to Retained Earnings (RE debited; Dividends credited)
Two major measures of liquidity:
Working capital (Current assets - current liabilities)
Current ratio (Current assets : current liabilities)
Current ratio (Current assets : current liabilities)
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