Multiple Choice
Which of the following does not occur during the closing process?
A) Journal entries are made to return the balance in all temporary accounts to zero.
B) Journal entries are made to transfer the net income or loss to retained earnings.
C) Journal entries are made to return the balance in all permanent accounts to zero.
D) Journal entries are made to transfer the dividends to retained earnings.
Correct Answer:
Verified
Correct Answer:
Verified
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