The Final Closing Entry to Be Journalized Is Typically the Entry

question 62

Multiple Choice

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

• A) revenue accounts.
• B) dividends account.
• C) retained earnings account.
• D) expense accounts.

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Definitions:

Empirical Evidence

Information acquired by observation or experimentation that is used as a basis for knowledge or validation of scientific theories.

Psychological Laboratory

A controlled environment where psychological research, experiments, and testing are conducted to study various aspects of human behavior and mental processes.

Wilhelm Wundt

Often regarded as the father of experimental psychology, he established the first psychology laboratory at the University of Leipzig in 1879.

Sigmund Freud

An Austrian neurologist and the founder of psychoanalysis, a clinical method for treating psychopathology through dialogue between a patient and a psychoanalyst.