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One of your classmates states that a company's books should be ongoing and therefore not closed until that business is terminated (goes out of business)

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One of your classmates states that a company's books should be ongoing and therefore not closed until that business is terminated (goes out of business). Response Requirements: Write a short report to explain the concept of the accounting closing process by drawing analogies between (1) a scoreboard for an athletic event and the revenue and expense accounts for a business. Hint: Think about what would happen if the scoreboard were not cleared before the start of a new game. Note: Three paragraphs of at least three complete sentences is enough. Four paragraphs is too much. Responses to threads started by other students is not required. Thank you. You must start a thread and have it approved before you can read and reply to other threads