closing off
| Noun | 1. | closing off - the act of isolating something; setting something apart from others |
| 单词 | closing off | |||
| 释义 | closing off
closing offclosing offthe process of listing all the balances in the LEDGERS and CASH ACCOUNT of a firm after the TRIAL BALANCE. PROFIT AND LOSS ACCOUNT and BALANCE SHEET have been completed. It ensures that all the balances have been carried forward to the next accounting period before any more transactions are recorded or posted. See ACCOUNTING.closing off
Synonyms for closing off
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