Multiple Choice
entries are recorded at the end of a financial year to reduce expense and income accounts to zero balances.
A) end of period.
B) adjusting.
C) closing.
D) correcting.
Correct Answer:
Verified
Correct Answer:
Verified
Related Questions
Q34: Which of the following accounts is closed
Q35: The end of the financial year for
Q36: Income and expenses are accumulated for only
Q37: Adjusting entries prepared for interim financial statements
Q38: The salaries expense account on the worksheet
Q40: A trial balance produced after the completion
Q41: On 1 November Yasmine Company Pty Ltd
Q42: Entries made at the beginning of the
Q43: The balance of the rent expense account
Q44: Which of the following accounts should be