Closing Entries

question 44

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:

Human Uniqueness

The distinct characteristics and capabilities that set humans apart from other species, including complex language, culture, and cognition.

Scientific Language

Specialized terminology used in science to ensure precise communication and understanding among researchers.

Creation Stories

Narratives or mythologies developed by cultures around the world to explain the origin of the universe, the Earth, and life itself.

Hypotheses

Tentative explanations or predictions that can be tested through observation and experimentation, foundational in scientific research.