An Error Has Occurred in the Closing Entry Process If

question 74

Multiple Choice

An error has occurred in the closing entry process if

• A) revenue and expense accounts have zero balances.
• B) the owner's capital account is credited for the amount of net income.
• C) the owner's drawings account is closed to the owner's capital account.
• D) the balance sheet accounts have zero balances.

---

Definitions:

Nausea

A feeling of discomfort in the stomach, often accompanied by an urge to vomit.

Acute Mania

A phase of bipolar disorder characterized by an excessively elevated or irritable mood, hyperactivity, and impulsive behavior.

Limit Setting

The process of establishing and enforcing boundaries to manage behaviors and promote a safe and orderly environment.

Lithium Level

The concentration of lithium in the blood, which is monitored to ensure effective treatment of bipolar disorder while minimizing side effects.