Closing Entries

question 20

Multiple Choice

Closing entries:

• A) need not be journalized since they appear on the worksheet.
• B) are prepared before adjusting entries.
• C) are not needed if adjusting entries are prepared.
• D) must be journalized and posted.

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Definitions:

Observable Properties

Characteristics of a substance that can be determined through direct observation or with the help of simple tests without changing the substance's identity.

Rational Arguments

Reasoning conducted or assessed according to strict principles of validity.

Leucippus

An ancient Greek philosopher, considered one of the earliest proponents of atomism, the theory that the universe is composed of indivisible components.

Vacuum

A space entirely devoid of matter, or having a pressure much lower than atmospheric pressure.