The Purpose of Closing Entries Is to

question 3

Multiple Choice

The purpose of closing entries is to

• A) adjust the accounts in the ledger.
• B) set nominal account balances to zero to begin the next period.
• C) set real account balances to zero to begin the next period.
• D) help in preparing financial statements.

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Background Color

The color filling the area behind an object or within a document, webpage, or application window, enhancing readability or aesthetic appeal.