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:

Classical Conditioning

Learning through the relationship between a naturally present stimulus and one that comes from the environment.

Extinction

In the context of psychology, it refers to the gradual diminishing of a conditioned response when the reinforcement or the association with a stimulus is removed.

Operant Conditioning

An educational method where the intensity of an action is altered by either encouraging or penalizing it.

Forgetting

The loss of information from long-term memory, often considered a normal process due to various factors like interference, decay, or retrieval failure.