Multiple Choice
Which of the following permanent account is changed during the closing process?
A) Share Capital-ordinary.
B) Retained Earnings.
C) Unearned Revenue.
D) None of the above.
Correct Answer:

Verified
Correct Answer:
Verified
Related Questions
Q28: After the adjusting entries are journalized and
Q64: If errors occur in the recording process
Q69: Current liabilities are obligations that the company
Q78: The income statement for the month
Q116: In one closing entry, the Dividends account
Q154: The post-closing trial balance is entered in
Q177: A correcting entry<br>A) must involve one statement
Q177: The amounts appearing on an income statement
Q225: When using a worksheet adjusting entries are
Q259: Closing the Dividends account to Retained Earnings