[SPLIT] What is the need for closing temporary accounts on a

[anastasiax]

What is the need for closing temporary accounts on a balance sheet? What would happen if the temporary accounts were kept open? Also what is different about a Balance Sheet for a strong, thriving business and the Balance Sheet for one in danger of bankruptcy?
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[Denis]

What is the need for closing temporary accounts on a balance sheet?

Well, if you don't want to close them, don't call them "temporary" :idea:

By the way, you should start your own thread: much better chance of getting replies than by
tacking on the end of an inactive thread.