What parameters are considered for deciding a movie's "close date"

On this page on boxofficemojo, There is a mention of a close date.

I understand that this date is the cutoff date for counting box office sales but what parameters are considered for deciding this date? does it have anything do with attendance?

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Final Checklist before deciding to Produce a Film

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What parameters are considered for deciding a movie's "close date"

Pictures about "What parameters are considered for deciding a movie's "close date""

Final Checklist before deciding to Produce a Film

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