An Error Has Occurred in the Closing Entry Process If

question 23

Multiple Choice

An error has occurred in the closing entry process if

• A)revenue and expense accounts have zero balances.
• B)the Retained Earnings account is credited for the amount of net income.
• C)the Dividends account is closed to the Retained Earnings account.
• D)the balance sheet accounts have zero balances.

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Definitions:

Pregnant

The state of carrying a developing fetus within the female body.

Prenatal Development

The process of growth and development that occurs from conception to birth.

Germinal

A novel by Émile Zola that highlights the harsh living and working conditions of the mining community in France during the 19th century.

Embryonic

Pertaining to an embryo or the development phase of a living being immediately after fertilization, during which rapid growth and formation of primary structures occur.