Which of the Following Describes the Correct Sequence of Year-End

Multiple Choice

Which of the following describes the correct sequence of year-end closing entries?

A) Close Revenues to Income summary;close Expenses to Income summary;close Income summary to Retained earnings.
B) Close Expenses to Income summary;close Revenues to Income summary;close Income summary to Retained earnings.
C) Close Revenues to Retained earnings;close Expenses to Retained earnings;close Income summary to Retained earnings.
D) Close Revenues to Income summary;close Income summary to Retained earnings;close Expenses to Retained earnings.