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    Financial Accounting Study Set 8
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    Exam 3: Accrual Accounting Income
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    Closing Entries
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Closing Entries

Question 94

Question 94

Multiple Choice

Closing entries:


A) are made at the beginning of each accounting period.
B) prepare the accounts for the next period's transactions.
C) cannot be done using a computer.
D) are the same as adjusting entries.

Correct Answer:

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