Two Types of Closing Journal Entries Are Posted to Retained

question 15

Multiple Choice

Two types of closing journal entries are posted to retained earnings at year-end.These are entries to:

• A)transfer revenues and expenses to retained earnings.
• B)transfer assets and liabilities to retained earnings.
• C)transfer net income (or loss)and dividends declared to retained earnings.
• D)close permanent and temporary accounts.

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Definitions:

Carl Rogers

An influential American psychologist known for developing client-centered therapy and contributions to humanistic psychology.

Systematic Desensitization

A therapeutic technique used to help individuals overcome phobias through gradual exposure to the feared object or situation.

Eclectic

Choosing and utilizing specific components from a diverse range of sources, methodologies, or designs.

Active Listening

A communication technique that involves giving full attention to the speaker, understanding their message, providing feedback, and retaining the information.