An Error Has Occurred in the Closing Entry Process If

question 15

Multiple Choice

An error has occurred in the closing entry process if

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

---

Definitions:

Right to Privacy

The individual's human right to keep their personal matters and relationships confidential and free from intrusion or surveillance.

Probability Sample

A sample selected from a population in a way that every element has a known and non-zero chance of being selected.

Member Validation

Asks respondents who were observed and/or interviewed to judge the authenticity of the research narrative.

Authenticity

The quality of being genuine, real, or true, rather than counterfeit or fake, often valued in people, objects, and experiences.