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:

Holocrine Gland

Gland whose secretion is formed by the disintegration of entire cells (e.g., sebaceous gland).

Sebaceous Gland

A type of skin gland that produces sebum, an oily substance that helps to keep the skin and hair moisturized.

Sweat Gland

Small tubular structures of the skin that produce sweat, a fluid composed of water, minerals, and waste products.

Adhesion Belt

A cell structure composed of cadherin proteins that encircles a cell, promoting cell-cell adhesion and tissue integrity.