The Final Closing Entry to Be Journalized Is Typically the Entry

question 201

Multiple Choice

The final closing entry to be journalized is typically the entry that closes the

• A) revenue accounts.
• B) owner's drawings account.
• C) owner's capital account.
• D) expense accounts.

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Definitions:

Technology

The application of scientific knowledge for practical purposes, especially in industry and improvements in tools, machines, systems, and devices.

Organizational Structure

The way in which an organization arranges its hierarchy, roles, and responsibilities to achieve its objectives.

Departments

Units or divisions within an organization, each handling specific tasks or functions.

Qualified Individuals

Persons who possess the necessary skills, experience, and credentials to perform a specific job or task.