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English translation: (monthly) close
| GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW) | ||||||
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| 14:50 Jul 7, 2018 |
| Portuguese to English translations [PRO] Bus/Financial - Accounting | |||||||
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|  Selected response from: Maria Teresa Borges de Almeida Portugal Local time: 10:33 | ||||||
Grading comment
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| Summary of answers provided | ||||
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| 4 +2 | (monthly) close |
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| 4 +1 | Month-end closing // Quarter-end closing // Year-end closing |
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Answers
17 mins confidence: 
peer agreement (net): +2
peer agreement (net): +2(monthly) close Explanation: Sugg. In accounting the monthly close is the processing of transactions, journal entries and financial statements at the end of each month. Under the accrual method of accounting, it is imperative that the financial statements reflect only the transactions and journal entries having relevance to the current month's revenues and expenses, and end-of-the-month assets and liabilities. Expressed another way, the monthly close must achieve a proper cutoff of each month's financial activities. https://www.accountingcoach.com/blog/what-is-the-monthly-clo... |
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Grading comment
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2 hrs confidence: peer agreement (net): +1
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