Which Statement Relating to Closing Entries Is Incorrect

question 44

Multiple Choice

Which statement relating to closing entries is incorrect?

• A) The closing process is simple with a computerised accounting system.
• B) Closing entries are only made once a year.
• C) Closing entries are made each time a trial balance is prepared.
• D) The need for closing entries arises from the accounting period assumption.

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Definitions:

Rinne Test

A hearing test that compares air conduction to bone conduction of sound, used to diagnose types of hearing loss.

Pure Tone Audiometry

A hearing test that uses sinusoidal tones of specific frequencies to determine an individual's hearing thresholds.

Tympanometry

A diagnostic test that measures the movement of the eardrum in response to changes in air pressure, assessing middle ear function.

Ossicle

Small bones, particularly referring to the three bones found in the middle ear: the malleus, incus, and stapes.