Management's ability to close the accounting books at any time is termed:
A) real-time reporting.
B) virtual close.
C) flash reporting.
D) shut-down reporting.

Question

Quizplus · Accepted Answer

The ability to close accounting books at any time is referred to as a virtual close. Real-time reporting indicates that information is available as it happens, flash reporting refers to quick and concise reporting, and shut-down reporting is not a commonly used term in accounting.

Management's Ability to Close the Accounting Books at Any Time