Closing Entries

question 95

Multiple Choice

Closing entries

• A)are prepared before the financial statements.
• B)reduce the number of permanent accounts.
• C)cause the revenue and expense accounts to have zero balances.
• D)summarize the activity in every account.

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Definitions:

Bowling Lane

The playing surface in the sport of bowling, which is a long, narrow, flat lane where the ball is thrown to hit the pins at the other end.

Bowling Team

A group of individuals who participate together in the sport of bowling, often competing against other teams in leagues or tournaments.

Figure-Ground

The organization of the visual field into objects (the figures) that stand out from their surroundings (the ground).

Visual Cliff

A laboratory device for testing depth perception in infants and young animals.