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On the last day of the fiscal year, a co-worker asks you to cut a check for $2,000 as a miscellaneous expense for supplies in order to complete a project for a VIP customer today. You notice the invoice looks a little different from other invoices that are usually processed. You know that by preparing the closing entries tomorrow, the miscellaneous expense will be set to zero for the beginning of the year.
Question 1: Should you write this check today and record the expense or write the check tomorrow?
Question 2: How would the company be affected if the check is written and the invoice ends up being erroneous?
Question 3: What are the four closing journal entries? Why are these necessary?
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Assignment - Write an essay of explaining what the main strategy development tools are and how they are used in business
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Which generation (Traditionalist, Baby boomer, GenX, Millennial, iGen) do you belong to and which of the group's characteristics are reflected in the way you.
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