Closing Entries

question 155

Multiple Choice

Closing entries

• A) need not be journalized if adjusting entries are prepared
• B) need not be posted if the financial statements are prepared from the work sheet
• C) are not needed if adjusting entries are prepared
• D) must be journalized and posted

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Definitions:

Double-Barreled Question

A single survey question that inappropriately asks for a response about two different subjects, potentially confusing the respondent.

Stratified Question

A question structured to explore different layers or aspects within a topic, aiming for more targeted insights.

Probability Samples

A sampling method in statistical analysis where each member of the population has a known, non-zero chance of being selected for the sample.

Chance Selection

A method of selection that relies on random outcomes where each option has an equal chance of being chosen.