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  3. Study Set
    College Accounting
  4. Exam
    Exam 13: Completion of the Accounting Cycle for a Merchandising Company
  5. Question
    The Goal of Closing Entries Is
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The Goal of Closing Entries Is

Question 34

Question 34

Multiple Choice

The goal of closing entries is


A) to clear revenue and expense accounts.
B) to update the Capital account balance.
C) to clear the Withdrawal account.
D) All of these answers are correct.

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