What is the meaning of closed account 2024?

Lucas Phillips | 2023-06-13 10:00:22 | page views:1917
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Amelia Ramos

Studied at the University of Cape Town, Lives in Cape Town, South Africa.
A closed account is any account that has been closed out or otherwise terminated, either by the customer, custodian or counterparty. In terms of accounting procedure, a company will close an account with the current year balance to start the new fiscal year with a zero balance.
2023-06-14 10:00:22

Isabella Lee

QuesHub.com delivers expert answers and knowledge to you.
A closed account is any account that has been closed out or otherwise terminated, either by the customer, custodian or counterparty. In terms of accounting procedure, a company will close an account with the current year balance to start the new fiscal year with a zero balance.
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