Definitions (4)
1. Accounting: Transfer of account balances from subsidiary ledgers (containing nominal or temporary accounts) to income summary account at the end of an accounting period. Also called closing the accounts or closing the books.
2. Mortgage lending: Date on which the mortgage deed and loan documents are signed and delivered, and the proceeds of the loan are advanced to the borrower.
3. Real estate: Date on which the title to a property is conveyed to its buyer and the sales proceed funds are transferred to its seller.
4. Selling: Final stage in a selling presentation where a salesperson asks for a buyer's order or commitment to buy.
Articles related to 'closing'
Business Tips
Deals Fall Through
One of the most useful skills we learned from Viaweb was not getting our hopes up. We probably had 20 deals of various types fall through. After the first 10 or so we learned to treat deals as backgro ... Read more
More Tips
Questions related to 'closing'
Related Videos
http://www.businessdictionary.com/definition/closing.html
