The closing process is necessary in order to: Multiple Choice Ensure that all permanent accounts are closed to zero at the end of each accounting period. Ensure that management is aware of how well the company is operating. Calculate net income or net loss for an accounting period. Ensure that net income or net loss and dividends for the period are closed into the retained earnings account. Ensure that the company complies with state laws.

Suppose that a government that is skeptical of efforts to regulate prices charged by private companies is nevertheless concerned that an electric utility company is taking advantage of consumers with unfair pricing policies. which of the following policy options might most effectively enable the government to achieve its objectives in this situation? do nothing to all. turn the company into a public enterprise. use antitrust laws to increase competition. regulate the firm's pricing behavior.