It is not necessary to post the closing entries to the ledger accounts because new revenue and expense accounts will be opened in the subsequent accounting period.

Question

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Closing entries are necessary to transfer the balances of temporary accounts (revenue and expense accounts) to the retained earnings account in order to start the new accounting period with a zero balance in these accounts. Skipping the closing entries can result in miscalculations and errors in future financial statements.

It Is Not Necessary to Post the Closing Entries to the Ledger