Which of the Following Is a True Statement About Closing

question 96

Multiple Choice

Which of the following is a true statement about closing the books of a corporation?

• A)Expenses are closed to the Expense Summary account.
• B)Only revenues are closed to the Income Summary account.
• C)Revenues and expenses are closed to the Income Summary account.
• D)Revenues, expenses, and the Dividends account are closed to the Income Summary account.

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Definitions:

Circadian Rhythm

The natural, internal process that regulates the sleep-wake cycle and repeats on each rotation of the Earth roughly every 24 hours.

Narcolepsy

A sleep disorder characterized by uncontrollable sleep attacks. The sufferer may lapse directly into REM sleep, often at inopportune times.

Sequential Processing

The cognitive ability to analyze and process information in a linear, step-by-step manner.

Neural Networks

Neural networks refer to a series of algorithms that mimic the operations of a human brain to recognize patterns and solve problems.