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Once the expense account is closed, it becomes a historical item and probably will never be reviewed again.
Suggested Answer: A
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24 comments · newest first
MO
Mose
3 days ago
I lean towards A) True. Why revisit old expenses?
CH
Cherilyn
8 days ago
True, but sometimes they review for audits.
CU
Curtis
13 days ago
I disagree, it's B) False. Historical data can be useful.
CA
Caprice
18 days ago
I think it's A) True. Once closed, it's done.
ST
Stephane
24 days ago
I feel A) True. Once it's closed, it’s history.
LA
Lashanda
29 days ago
B) False. Companies often analyze past accounts.
VI
Viola
1 month ago
I lean towards A) True. Why revisit old expenses?
FR
Frederica
1 month ago
True, but sometimes they review for audits.
CH
Chauncey
1 month ago
I disagree, it's B) False. Historical data can be useful.
IN
India
2 months ago
I think it's A) True. Once closed, it's done.
KA
Karma
2 months ago
Sounds too final, are you sure about that?
ST
Stevie
2 months ago
That's how it usually goes, but you never know!
SA
Salina
2 months ago
Really? I thought they might get looked at again.
DE
Devon
2 months ago
I disagree, sometimes they get reviewed for audits.
FL
Fletcher
3 months ago
A) True, once it's closed, it's done.
BE
Beatriz
3 months ago
Historical item? Sounds a bit extreme to me!
ME
Merissa
3 months ago
True, but it depends on the company's policy.
WI
William
3 months ago
Wait, really? I thought they could be reviewed if needed.
TA
Tamra
3 months ago
I disagree, sometimes they get audited later.
BU
Buddy
3 months ago
A) True, once it's closed, it's done.
DO
Dominga
4 months ago
I’m leaning towards true, but I recall some cases where past expenses were analyzed for trends. It's confusing!
MI
Micheal
4 months ago
This sounds familiar; I think we had a practice question about closing accounts and their relevance. Could be true?
LU
Luis
4 months ago
I’m not entirely sure, but I feel like we discussed how some historical items can still be referenced for future budgeting.
YA
Yasuko
5 months ago
I think I remember something about expense accounts being reviewed during audits, so maybe it's false?