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.

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Definitions:

ICD-9-PCS

The International Classification of Diseases, Ninth Revision, Procedure Coding System; a system used in the United States for classifying medical procedures.

ICD-10-PCS

International Classification of Diseases, Tenth Revision, Procedure Coding System; a system used by healthcare providers to code and classify procedural information for healthcare services rendered, including surgical procedures.

Key Component

An essential element or part of a system, process, or machine that plays a critical role in its functionality or performance.

Anesthesiology

A medical specialty focused on the safe use of drugs and techniques to render a patient unconscious or free of pain during surgical procedures and other medical interventions.