The Goal of Closing Entries Does NOT Include

question 23

Multiple Choice

The goal of closing entries does NOT include:

• A) to clear revenue and expense accounts.
• B) to update the Capital account balance.
• C) to clear the Withdrawals account.
• D) to clear the Cash account.

---

Definitions:

Cost-benefit Relationship

An analysis or assessment that compares the costs and benefits of a decision, project, or action to determine its feasibility or worth.

Least Expensive

The option or solution with the lowest cost among a selection of alternatives.

Edisonian Method

A trial-and-error approach to innovation and problem-solving, inspired by Thomas Edison's experimental practices.

Attribute Listing

A problem-solving technique that involves breaking down a system, issue, or object into its basic attributes and analyzing each to explore possible solutions.